THE ROLE OF SUSTAINABLE PUBLIC PROCUREMENTS IN THE TRANSITION PROCESS FROM THE LINEAR ECONOMY MODEL TO THE CIRCULAR ECONOMY MODEL

Abstract

Sustainability issues are addressed extensively in current researches. Nonetheless, the authors consider it necessary to deepen studies on the role of public procurement in the transition from the linear economy model to the circular economy model. The authors also consider that there is a close link between sustainable acquisitions and the development of the sustainable financial market. This is demonstrated by the evolution of exponential growth in both the volume of sustainable debt securities and investments in sustainable assets. For the elaboration of this study, the authors applied the monographic method to establish value judgments regarding the approached concepts, the comparative method to highlight particularities of the different approaches of the concept of public procurement in terms of sustainability aspects. To determine the trend in 2012-2019 of sustainable debt securities, the authors applied the time series adjustment method according to the power function and the average growth rate method.

Keywords

• public procurement;
• circular economy;
• sustainable investments;