Sustainable development without prioritizing climate goals: closed-loop economy and digitalization

Udovichenko A.S.¹
¹ Санкт-Петербургский государственный университет

Journal paper

Informatization in the Digital Economy ^{(РИНЦ, ВАК)}
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Volume 5, Number 4 (October-December 2024)

Citation:

Indexed in Russian Science Citation Index: https://elibrary.ru/item.asp?id=80401075

Abstract:
The practice of developing strategies for achieving the United Nations Sustainable Development Goals continues to be a common standard for many corporations and countries. At the same time, the problem is the political bias of this topic, since periodically both major politicians and financial institutions change their policies on this issue faster than strategies are being developed. Political engagement is typical for climate purposes. At the same time, the very importance of environmental, social and economic responsibility of corporations is not questioned. This article examines alternative opportunities for developing corporate and government strategies for sustainable development that are in line with the general development of productive forces: the spread of business models of the closed-loop economy and digitalization (which refers to the entire development of information technology, including the explosive development of artificial intelligence). The role of digitalization as a catalyst for the spread of closed-loop economy practices, as well as their integral positive impact on the achievement of all seventeen Sustainable Development Goals, is emphasized.

Keywords: sustainable development, climate policy, closed-loop economy, digitalization, political commitment of corporate sustainable development strategy

JEL-classification: E26, J46, O17

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