Circular economy and ESG principles in enterprise economics
Abstract
The article examines the terminology and essence of the cyclical economy, as well as the relationship of its aspects with the principles of sustainable development. A systematization of the mutual influence of ESG factors and the circular economy is proposed, as well as a review of the risks of transforming the business model to a “closed cycle”. The purpose of the article is to determine the direction of adaptation of scenario forecast economic models for determining the effectiveness of the transition of enterprises to a cyclical economy, taking into account the advantages and dangers of changes. It is noted that the elements of the closed-cycle economy were actively introduced into domestic practice during the Soviet period and it is advisable to adapt this experience to the current market situation, taking into account the best international experience and regional peculiarities in our country. On the basis of the conducted research, the mutually influencing components and indicators of cyclic economy and ESG principles are studied, as well as a set of factors requiring attention and adaptation in research and practical work on the transition of enterprises to a “closed cycle” is proposed in the development of the methodology for constructing economic models for determining the predictive value of business. In conclusion, proposals are made for the further development of methodological support in the field of transformation of enterprises to a cyclical economy, as well as its main advantages.
About the Author
D. Yu. Zakhmatov
Kazan (Volga region) Federal University
Russian Federation
Russian Federation
PhD in Economics, Associate Professor
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For citations:
Zakhmatov D.Yu. Circular economy and ESG principles in enterprise economics. Kazan economic vestnik. 2022;(4):5-13. (In Russ.)
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