CONCEPTUAL AND PRACTICAL DIFFERENCES BETWEEN CIRCULAR AND GREEN ECONOMY

Abstract

The shift from systems based on the need for economic growth to eco-friendly economic systems has resulted in the introduction of new ideas such as sustainable development, sustainable growth, sustainable economy, circular economy, and green economy. While the circular economy and green economy share several ideas, they differ in some ways. The circular economy emphasizes waste reduction and resource efficiency, whereas the green economy emphasizes the incorporation of environmental and social concerns into economic decision-making. While both concepts advocate for sustainable production and consumption, the circular economy emphasizes the circular movement of resources, whereas the green economy emphasizes the overall sustainability of economic activities. In terms of knowledge, these have been widely developed over the last 30 years, but their practical applicability has proven less rigorous, also in European Union and Romania.