Abstract: the aim of this work is to substantiate the need for the formation of a fundamentally new model of circular investment, which is the key condition for the transformation of the natural resource model of economic reproduction, established in world practice, into a circular economy (closed-loop economy). The latter defines production and consumption waste, positioning it as a valuable resource, as a new source of strategic economic growth. The achievement of the goal in the framework of the study is facilitated by the identification of global challenges associated with the aggravation of the global environmental situation and the international discussion of the need to move to a circular model of the economy; determination of the conceptual foundations of the development of a closed-loop economy; introducing into the scientific circulation of the category circular investments, revealing their contents and main directions of development; substantiation of the complex effect of the implementation of circular investments; assessment of the development of circular investment in Russia. The study was based on a systematic approach; such methods as deduction and induction, analysis and synthesis, comparison and analogy, and the systematization method were used in the work. The results of this work can be applied in the scientific community as part of a study of approaches to determining a new circular investment model and determining its fundamental features.
Keywords: economic growth, threat of resource shortages, waste as a valuable resource, circular economy, circular investments, animated effect