Uman NUH | today: 12/22/2024

Circular economy strategy as a tool for stabilization and sustainable development of Ukrainian agribusiness in the face of uncertainty

Author(s) Revutskaya A., Candidate of Ekonomikal Sciences, , Uman National University of Horticulture
Froter O.S., , , Uman National University of Horticulture, Ukraine
Непочатенко З. В., , ,
Category Economics
year 2024 issue Issue 105 part 2
pages 211-219 index UDK 332.1: 339.9: 338.43
DOI 10.32782/2415-8240-2024-105-2-211-219 (Link)
Abstract The article reveals the role and principles of agribusiness within the framework of the circular economy concept and its contribution to sustainable development. The adaptability of the agricultural sector development to the current requirements and the impact of the circular economy on the creation of a sustainable, environmentally responsible agricultural production system are studied. The necessity of revising traditional methods of agriculture and introducing innovative technologies that reduce the impact on the environment and optimise the use of resources is substantiated. The article outlines the key aspects of the closed-loop economy for the development of agribusiness, namely: conservation of natural resources, reduction of emissions and implementation of circular economy principles in agricultural production. The article emphasises the importance of developing effective waste management strategies, creating integrated energy efficiency management systems and using alternative energy sources in business structures of the agricultural sector. The article focuses on the importance of implementing environmentally efficient and sustainable agricultural practices to ensure food security and preserve natural resources. The evolution of the definitions of «circular economy», «sustainable development», «green economy», «food security» and their main manifestations in the Ukrainian economy are analysed. The article highlights the social aspects of sustainable agribusiness, in particular: job creation and improvement of living conditions in rural areas, social responsibility of agribusiness, establishment of partnerships between agribusiness, communities and authorities to promote sustainable development of the state and regions in general. The article explores the introduction of regenerative agricultural practices and support for sustainable production under conditions of uncertainty. Recommendations on the state policy of further development of an ecologically balanced and economically efficient agricultural sector are provided. The necessity of active implementation of green innovations in agriculture to achieve global sustainable development goals and create an effective sustainable agricultural system is substantiated.
Key words circular economy, food security, green economy, management strategy, sustainable development, agricultural sector, agribusiness, ecosystem approach, resource efficiency, uncertainty, ceiling production, economic risks, ecological balance.
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