THE PROBLEMS OF ENSURING THE TRANSITION TO CIRCULAR ECONOMY
The article discusses the relationship between the green economy and the closed-loop economy. The definition of a closed-loop economy is given; the retrospective stages of its formation are specified. The acts of the European Commission underlying the process of transition to a green economy are analyzed. The authors conclude that the transition to a closed-loop economy is impossible without the development of standards and criteria for the life cycle of the product, taking into account repairs, the return of the resource to production. As this takes place, green financial instruments can be an aid to “green” growth with conservation of resources.