Methodological foundations for shaping the theory of a circular carbon economy

Introduction. Tough climate disputes, lack of any tangible progress in greenhouse gas emission reductions, and escalating anthropogenic pressure on ecosystems demand to rethink sustainable development strategies. Modern challenges require the integration of sustainable approaches combining environmental and economic efficiency. The purpose of the study is to analyze the evolution of the theories of low-carbon development and circular economy, as well as to substantiate their integration to improve the efficiency of the current climate policy. Materials and Methods. The methods of logical and comparative historical analysis, generalization of scientific literature, strategic and industry documents, institutional and scenario analysis were used. A conceptual approach rooted in the regular integration of low-carbon development and circular economy’s principles was used to design a new theoretical model. Results. The work revealed patterns of convergence in the approaches to low-carbon development and circular economy, which made it possible to justify the emergence of a new paradigm – the CCE. The CCE is shown to look upon man-made CO2 emissions as a carrier of positive externalities, but only if they are managed rationally through industrial recycling processes available in various industries. Conclusions. The proposed conceptual approach contributes to the development of the theory and practice of climate policy, increases its adaptability to the economic systems of different scales and regional characteristics. In addition, it can trigger a new stage of research aimed at diversifying and improving the effectiveness of low-carbon development strategies.