CHALLENGES AND OPPORTUNITIES OF CIRCULAR ECONOMY AND GREEN ECONOMY

The aim of research presented in this paper is to evaluate current state and trends for fulfilling global and Europe Union (EU) accepted targets of green growth (e.g. green economy and circular economy). In order to estimate the state and trends in Latvia, and to compare them with other EU countries, several appropriate indicators have been chosen. These indicators are: resource productivity, waste management and eco-innovation. The results show that Latvia is lagging behind not only the EU average, but also the Baltic States. Regarding the municipal waste recycling, Latvia with share 8 % of recycling waste in 2014 came last in the EU. Contrary to the trends of EU and other Baltic countries, the share or proportion of landfilled municipal waste has not decreased. The eco-innovation index, which characterizes countries' eco-innovation performance, shows that compared to the EU average, the Baltic States trail behind other EU countries. Moreover, Latvia is only on 24th position among the EU Member States.