Approaches and perspectives on the transition to the circular economy in the European Union

Lucian Puiu Georgescu ^1,2 Nicoleta Barbuta Misu ¹ Valentin Marian Antohi ^1* Costinela Fortea ¹ Zlati Monica Laura ¹

• ¹ Dunarea de Jos University, Galați, Romania
• ² Department of Chemistry, Physics and Environment, Faculty of Sciences and Environment, Dunarea de Jos University, Galati, Romania

The transition to a circular economy is a central pillar of European sustainable development.In the current context influenced by multiple crises and geopolitical conflict, the efficiency and resilience of this process is a point of interest for both European policy makers and national bodies that are in a position to adjust current approaches to the transition to a circular economy in order to avoid the threats induced by these exogenous factors and to succeed in achieving European objectives. The study aims at analyzing the transition to the European circular economy in the period 2010-2022 by using an econometric model based on panel data for the 27 EU Member States, tracking the relationships between variables such as private investment, gross value added, municipal waste recycling rates, recyclable material flows and greenhouse gas emissions. The methods employed are analytic-descriptive, with the authors using multiple linear regression with fixed effects panel data, spectral analysis and descriptive statistics study to identify the effects of variable dynamics on the efficiency of the transition to the circular economy. The results confirm that private investment and the integration of recyclable materials contribute significantly to the efficiency of the circular economy but regional disparities, recycling infrastructure and inefficient municipal waste management limit the progress to the circular economy in some Member States. At the same time, the results of the study highlight the difficulties in achieving environmental targets with a higher resilience threshold in high emitting countries. The analysis emphasizes the importance of public policies that promote the attractiveness of the circular sector, reduce regional disparities and improve recycling infrastructure. The research contributes to the literature by integrating seasonal and regional analysis into the assessment of the circular economy highlighting the need for a coordinated and tailored approach for a sustainable transition. The results of the study are useful for supranational policy makers to develop an effective public policy strategy to accelerate progress towards a resilient circular economy at the European level.