Proceedings of The 13th International Conference on Humanities, Psychology and Social Sciences
A Performance Analysis in Circular Economy for selected EU Countries
Fazıl Gökgöz and Engin Yalçın
The conventional economy depends on solely the production and consumption of materials. This approach causes exhaustion of resources and excessive production of waste. As a result, countries face critical economic and environmental difficulties. The fact of finite energy sources has called for countries to act more cautiously in terms of resource use. To this end, the circular economy makes important contributions to both economy and environment. The circular economy is a concept affiliated with acquiring the regeneration of sources and enabling to retain product values as high as possible. Today, one of the main problems for developed and developing countries is to balance economic growth and environmental protection. The circular economy is a remarkable contributor to this purpose. The principal aim of a circular economy is to conserve the environment and to preserve finite sources through efficient waste management. In this regard, the transition to a circular economy is indispensable for a sustainable and low-carbon. In this study, we aim to determine to what extent the EU countries perform efficiently in terms of the circular economy. In this framework, Multi-Criteria Decision Making (MCDM) methods are suitable approaches as they can deal with benefit and cost criteria concurrently. To this end, the main aim of this study is to assess the actual circular economy performance of the Nordic and Baltic countries with the framework of the MCDM approach.
keywords: Circular Economy, Performance, MCDM, EU Countries.