Eco-efficiency is a concept accepted in the economic sphere that refers to strategies aimed at maximizing the efficiency of production processes while minimizing the negative impact on the environment. It is considered one of the best tools to promote the transformation from unsustainable to sustainable development. Eco-efficiency is a management strategy that links financial and environmental performance to create more value with less environmental impact. The purpose of the paper is to clarify the essence and content of the term “eco-efficiency” on the basis of generalization and systematization of existing conceptual approaches to the definition of this concept. Methodology. The methodological basis of the study is the scientific works of scientists on the problems of green economy, circular economy, environmental management, waste management. The research was conducted using general scientific methods: analysis and synthesis – to summarize the existing conceptual approaches and provisions, scientific developments on the development of the circular economy, greening of logistics systems, eco-efficiency, green investments, clarification of the terminology; classifications – to systematize theoretical approaches to the definition of “eco-efficiency”, which are proposed by various scientific schools; structural and logical generalization – to clarify the essence and content of the term “eco-efficiency as a philosophy of modern business”. Results. It was established that there is no single scientific approach to the definition of eco-efficiency, but a certain conceptual homogeneity is present. The key goals and specific tasks of implementing eco-efficiency as a modern paradigm of business development are determined. The impact of eco-efficiency on company management was studied and evaluated. The European trends in the development of the circular economy concept have been determined. Practical implications. Eco-efficiency approval offers a range of advantages for businesses. The implementation of eco-efficiency is related to the use of a smaller amount of natural resources, energy, and water. It also involves the adoption of recycling, waste management, and disposal in the process of improving production processes, as well as improving the operation of the logistics chain. Implementing eco-efficiency requires significant managerial effort. An important form of applying the concept of eco-efficiency has become the circular economy, which is related to the reconditioning and recycling of existing materials and products in order to increase their life cycle. The key goal of the transition to a circular economy is to change the paradigm of logistics, rethink the value chain and develop new business models that must meet modern requirements and challenges in the global world. The practical significance of the research results lies in the possibility of developing recommendations for the “green” transformation of the national economies of European countries, the implementation of business models and innovative technologies of the circular economy, waste management strategies. Value/originality. The author's approach to the formulation of the category “eco-efficiency as a philosophy of modern business” is theoretically substantiated.

This article investigates the role of the banking institution in carrying out the circulation of funds. The financial circuit of the funds can be likened to the circulation of blood through the venous system of man. A small failure can cause great health problems. This phenomenon can be compared with the monetary circulation in the economy of the country. The national institution, that aims to supervise and control the money circuit, is the Central Bank (the case of the Republic of Moldova – the National Bank of Moldova). It is precisely this institution that is obliged and has at its disposal all the monetary policy instruments to achieve this objective. The supreme banking supervisory institution is the BASEL Committee, the objective of which is to understand supervisory issues and improve the quality of banking supervision worldwide, in order to increase financial stability, being the main global standard for prudential regulation of banks. By decision no. 63 of February 28, 2019, the National Bank of Moldova approved the Methodology for supervision and evaluation of banks' activity, thanks to which international standards and best practices in the field of banking sector supervision are transposed. The approval of the methodology is part of the process of reforming the domestic banking supervision framework and represents a fundamental step in the implementation of a future-oriented risk-based supervision process using professional reasoning.

The aggravation of ecological problems at the global level, as well as the need to solve the economic and social problems of humanity, require the implementation of important economic transformation measures. The circular economy (or closed-loop economy) is a form of production organization related to extending the life cycle of products and minimizing harmful disposal and waste. It is also about sharing, renting, reusing, repairing, refurbishing and recycling existing materials and products as much as possible. As with any type of economic model, the functioning of the circular economy requires a corresponding logistics system. In this context, together with the acceptance of the concept of ecological efficiency and "green" economy in many countries, the new approach of "green logistics" has emerged in international practice. The purpose of this article is to generalize theoretical approaches and to substantiate the conceptual provisions of logistical support for the development of the circular economy in the conditions of global transformations. Methodology. The methodological basis of the study is the scientific work of scientists on the problems of green economy, circular economy, environmental management, waste management, logistics management. The research was conducted using general scientific methods: analysis and synthesis - to summarize the existing conceptual approaches and regulations, scientific developments on the development of the circular economy, greening of logistics systems, green logistics, clarification of terminology; classifications - to systematize theoretical approaches to the definition of "green logistics" proposed by various scientific schools; structural and logical generalization - to determine the key logistics approaches to the development of the circular economy and the principles of green logistics for the implementation of circular business models. Results. In order to present the specific aspects of circular economy logistics, the opinions of researchers from different countries were studied to outline a related synthetic vision. After conducting the study, the current characteristics of the circular economy were identified. Then the current international trends in logistics development were identified. An important trend is the development of "green" logistics. It has been found that many conceptual approaches to the definition of the terms "green" logistics and environmental logistics are generally accepted and have a broader meaning, without taking into account the specifics of the functioning of different areas of economic activity, including the transport sector and logistics activities. Scientific views on the interpretation of the nature and content of the concept of "green" logistics are generalized. It is proposed to consider the concept of "green" logistics as a tool of circular economy. It offers companies a number of advantages and is based on certain principles. As a synergy effect, the massive implementation of the circular economy and green logistics can significantly contribute to solving the socio-economic problems of humanity. Practical implications. The practical significance of this study lies in the fact that the conceptual provisions can be used in practice when developing an organizational and economic mechanism for implementing the concept of green logistics. This mechanism should include such blocks as: management of supplies and purchases of material resources; production of products; warehousing and inventories; logistics flows; risks of logistics activities; logistics service processes; waste recycling; innovation and change. The introduction of the proposed organizational and economic mechanism will reduce the cost of managing the movement of logistics flows and increase the level of environmental safety. This is one of the most important requirements for the implementation of the concept of corporate social responsibility of business in a circular economy. Value/originality. The authors' approach to formulating the category "green logistics" is theoretically substantiated.