CIRCULAR APPROACHES: THE FUTURE OF PUBLIC PROCUREMENT
CIRCULAR APPROACHES: THE FUTURE OF PUBLIC PROCUREMENT
Author(s): Krasimira S. ValchevaSubject(s): Politics / Political Sciences, Politics, Economy, Public Administration, Economic policy, Environmental and Energy policy, Government/Political systems, Socio-Economic Research
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: public procurement; circularity; sustainability; models; approachesbility; models; approaches
Summary/Abstract: The future of public procurement is increasingly interconnected with the principles of circular economy as governments face pressing ecological, economic, and social challenges that deplete their financial resources. The adoption of circular public procurement practices represents a significant shift towards sustainability and offers significant benefits to government contractors, businesses, and citizens alike. This approach drives innovation and creates added value as it focuses on extending product lifecycles, reducing waste, and promoting resource efficiency throughout supply chains. If public entities prioritize circularity in their purchasing, they could enhance trust and reputation through the creation of a sustainable and resilient procurement ecosystem. This paper explores the concept of circular public procurement and how it could be implemented by public entities to advance sustainable development goals and ensure long-term socio-environmental benefits.
Journal: Journal of Management Sciences and Applications (JOMSA)
- Issue Year: 3/2024
- Issue No: 1
- Page Range: 22-33
- Page Count: 12
- Language: English
