transition to a circular economy

In this regard . They are all useful approaches but need to be revised according to an integrated perspective in order to address different topics closely intertwined. The goal is long-term business sustainability, which can only be achieved by full efficiency from the economic, technical-operating and environmental point of view. See further details. Mode of circular economy in Chinas iron and steel industry: A case study in Wuan city. Bocken, N.M.P. In fact, stakeholder engagement has helped draw consumers attention to the responsible use and disposal of products, thus promoting improvements not only in the environmental and social dimensions pertinent to communitys interests, but also the economic realm; stakeholder engagement can potentially lead to cost savings effected by recycling and material reuse processes. I consent to the use of following cookies: Necessary cookies help make a website usable by enabling basic functions like page navigation and access to secure areas of the website. In other words, the establishment of circular economic processes emphasizes the need to adopt an integrated and cross-cultural view with respect to all relevant dimensions (economic and non-economic), following a long-term perspective and a circular approach in resource use. Then, take a system view that encompasses all participants in the supply chain. Stakeholder Engagement, Knowledge Problems and Ethical Challenges. 20: 8641. It also reclaims industrial sites using its expertise in safety, remediation, and environmental restoration. Olander, S. Stakeholder impact analysis in construction project management. Sponsorship of Consumers Associations initiatives on sustainability and circular economy. Available online: Moore, J.L. Rossignoli, F.; Lionzo, A. +1 (202) 729-7600. Social and environmental reporting in the UK: A pedagogic evaluation. Santoro, G.; Vrontis, D.; Pastore, A. Accordingly, studies on the CE are especially relevant for the scientific community, environmentalists, and policymakers. The world threw away around 300 million tons of plastic in 2019, nearly equivalent to the weight of the human population. The transition to a circular economy is likely to move faster than previous transformations. Thus, the need to engage both internal and external stakeholders has increased with time; in particular, companies should focus on specific groups, such as the following: Consumers: Their engagement is essential, both for understanding their expectations and to orient them toward the virtuous practices of responsible and informed consumption. Finally, the report assesses the effectiveness of Bank Group engagements in delivering improved MSWM for clients and the factors that explain such effectiveness. Eni is committed to the energy transition toward a low-carbon future, ensuring access to efficient and sustainable energy, combating climate change, maximizing the energy efficiency of its assets, and promoting the growth of low-carbon sources in its portfolio. Kisa Zehra - Global Sustainability Thought Leadership Lead. future research directions and describes possible research applications. CSR communication strategies and stakeholder engagement of upscale hotels in social media. The interaction of top management group, stakeholder and situational factors on certain corporate reputation management activities. Freeman, R.E. Indeed, it is useful to establish relationships based on dialogue and long-term interactions, as doing so facilitates the sharing of know-how and reveals effective ways to translate it into innovative circular products/services; Employees: Employees must be encouraged to develop new skills and reshape their values and ethical principles to those of the companys cultural system. Vilchez, V.F. In wealthy countries as well as in the growing global middle class, there is a very important role for behavior change campaigns and policy incentives to nudge behavior in the right direction, for instance around fast fashion, plastics and food waste. Ma, S.; Wen, Z.Z. Jean-Denis Curt - Circular Economy Manager. Consumer awareness of sustainability is on the rise globally, with the majority of consumers saying they expect brands to do what is right. Ambekar, S.; Prakash, A.; Patyal, V.S. The key to our survival: a green planet or green technologies? View the publication. Respect for human rights is an integral part of Enis culture, based on the dignity of every human being and on the companys responsibility to contribute to the well-being of individuals and of local communities. Thus, supplier engagement should be based on the sharing of the companys circular economy goals as well as their orientation toward renewable material choices; Government: The government should understand companies needs and remove barriers in implementing the transition toward a circular economy. For instance, companies responses have been classified according to stakeholders demands to distinguish firms following reactive, proactive, and interactive approaches of stakeholder engagement [, Other studies have focused on assessing stakeholder impacts on creating long-term success conditions, especially in terms of competitive advantage [, Stakeholder engagement has been also investigated with reference to the specific role played by each stakeholder within the value creation process, distinguishing between internal and external parties as well as between primary and secondary actors [. Altogether, more than 100 billion tons of resources flow into the economy every year, and more than 60% ends up as waste or greenhouse gas emissions. Cookies cannot read data off your hard disk or read cookie files created by other sites. You can support our work by making a gift today or exploring other ways to give. Through this research, it has been seen that stakeholder engagement may act in a positive way in terms of cultural orientation toward circular economy principles. We all need to come together governments, policymakers, civil society and communities to be better consumers. The circular economy umbrella: Trends and gaps on integrating pathways. There are two key problems with this, one social and the other economic. .chakra .wef-facbof{display:inline;}@media screen and (min-width:56.5rem){.chakra .wef-facbof{display:block;}}You can unsubscribe at any time using the link in our emails. Strategic context and organizational climate. It is based on three principles, driven by design: eliminate waste and pollution, circulate products and materials (at their highest value), and regenerate nature. those of the individual author(s) and contributor(s) and not of MDPI and/or the editor(s). A proposal based on the analytic network process. Washington DC 20002 Managing stakeholder relations when developing sustainable business models: The case of Brazilian energy sector. Ph.D. Thesis, University of British Columbia, Vancouver, BC, Canada, May 2004. In fact, in order to implement the circular economy model, it is necessary to develop a specific awarenessbased on a drastic change in values and principlesabout the relevance of the natural environment and the negative economic impacts of poor environmental choices. ; Keim, G.D. All articles published by MDPI are made immediately available worldwide under an open access license. Michalski, G.; Blendinger, G.; Rozsa, Z.; Cierniak-Emerych, A.; Svidronova, M.; Buleca, J.; Bulsara, H. Can We Determine Debt to Equity Levels in Non-Profit Organizations? Scientists expect there could be more plastic than fish in the ocean by 2050. The UK has taken a step in this direction by introducing a tax on plastic packaging that has less than 30% recycled content. ; methodology, A.A.; formal analysis A.A.; investigation D.M.S. Circular economy action plan - Environment This function allows the website to load faster by pre-loading certain procedures. Registers a unique ID that is used to generate statistical data on how the visitor uses the website. The relationship between stakeholder engagement and sustainability culture was examined using a qualitative approach in which Enis stakeholder engagement practices were investigated through an analysis aimed at underlying the most relevant companys statements, while also taking into consideration the stakeholder engagement indicators disclosed by Eni; Enis sustainability culture was appraised by considering Enis environmental, social, and economic sustainability indicators in relation to GRI guidelines. In general, the circular economy principles underline the manner in which ecosystem integrity and community wellbeing can become widely compatible with the optimization of economic performance in the long term. Editors select a small number of articles recently published in the journal that they believe will be particularly Transition to the Circular Economy: Implications to - ResearchGate Zaheer, A.; Bell, G. 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Staunton, C.; Tindana, P.; Hendricks, M.; Moodley, K. Rules of engagement: Perspectives on stakeholder engagement for genomic biobanking research in South Africa. Pucci, T.; Casprini, E.; Galati, A.; Zanni, L. The virtuous cycle of stakeholder engagement in developing a sustainability culture: Salcheto winery. In. Not sure where to find something? Eni sells gas, electricity, liquid natural gas, and oil products in European and extra-European markets. There is a clear economic case for this model for large machines such as photocopiers, MRI scanners or agricultural equipment. Japan, UNDP, and DENR push for Philippines' transition to circular economy ; Farias Pereira, S.C.; Campos, L.M.S. Arnstein, S.R. Corporate governance, ownership and global markets. Delery, J.E. This approach involves surveys, focus groups, meetings with selected stakeholders, public meetings, and workshops; Negotiate: limited two-way engagement occurs via discussions on specific issues or a range of issues aimed at reaching a consensus. Pagell, M.; Wu, Z. These guidelines have continued to be refined: this research considered the sustainability guidelines issued in 2013 (G4) with reference to Enis 2015 and 2016 sustainability indicators, and the most recent formulation, released in 2016, with reference to Enis 20172019 sustainability disclosure. EIB financing for the circular economy reached record level of 1.1 billion in 2022. ; Greenspan, D.S. African Development Bank participates in the World Circular Economy 2013-2023 The World Bank Group, All Rights Reserved. A circular economy closes the loop between extraction, manufacturing, and disposal by advocating for designing products to reduce waste, using products and materials for as long as possible, and recycling materials from endoflife products back into the economy. Communication to the European Parliament, the Council, the European Economic and Social Committee of the Regions. Many social and political issues have so far been neglected in planning for the circular economy transition. Geissdoerfer, M.; Savaget, P.; Bocken, N.M.P. nal, E.; Urbinati, A.; Chiaroni, D. Managerial practices for designing circular economy business models. Jan 20, 2020 It's time for businesses to put the pedal to the metal Image: Christian Englmeier on Unsplash.com Peter Lacy A case study is an empirical enquiry that closely examines a specific phenomenon (the case) within its real-world context, identifying one of the best strategies for presenting evidence in a linear format [. You can unsubscribe at any time using the link in our emails. Project relationship management and the stakeholder circle. Consumer engagement can thus become a source for learning and innovation, as long as they play the role of co-producers in the spirit of proactive engagement [. This research applies the case study methodology by focusing on the experiences of a specific Italian multinational company (Eni Spa; henceforth Eni) operating in the energy industry. This study underlines how stakeholder engagement may be used to promote cultural change within the organization with respect to specific principles, while simultaneously facilitating the establishment of a circular economy. Bryony Clear Hill - Manager Standards, Reporting and Circular Economy. Ghisellini, P.; Cialiani, C.; Ulgiati, S. A review on circular economy: The expected transition to a balanced interplay of environmental and economic systems. Consumer pressure is a crucial part of the picture in encouraging businesses to change their practices and governments to introduce favorable policies. In particular, the investor engagement process is relevant in cases where the ownership is highly fragmented (a significant gap exists between the shareholders and the management). The constant effort to assure respect for human rights is based on a due diligence process in line with the United Nations Guiding Principles on Business and Human Rights, guaranteeing access to remedial measures even in case of impacts deriving from the activities of its own affiliates. This approach encourages companies to maintain their products for longer time periods, for instance by promoting new services such as long-term repair and maintenance [, The models in the previously mentioned international frameworks [. Indeed, a strong culture of sustainability implies the concurrent enhancement of economic, social, and environmental dimensions, which can be expressed by the companys decision to disclose these issues through specific sustainability indicators. The circular economyA new sustainability paradigm? Managing environmental change process: Barriers and opportunities. Marketing cookies are used to track visitors across websites. ; Carvalho, M.M. Read our Privacy and Cookies Policy here. For any questions about the Transitioning to a Circular Economy series, please contact Robert Mitton, Project Manager (Climate Action), We use cookies to improve your experience on our website some are strictly necessary to operate our site, and others are optional. With reference to the engagement of its employees, Eni states that, In 2019, Eni completed the fourth edition of the climate analysisEni secondo te. Rebs, T.; Brandenbur, M.; Seuring, S.; Stholer, M. Stakeholder influences and risks in sustainable supply chain management: A comparison of qualitative and quantitative studies. PDF The Circular Economy: What, Why, How and Where - OECD The following analysis confirms that Enis stakeholder engagement implies a positive impact on sustainability culture, demonstrating that the establishment of long-term relationships with the most relevant stakeholders may improve the cultural outlook in terms of circularity and sustainability. ; Callewaert, J. 17 ideas accelerating the transition to a circular economy Salvioni, D.M. The engagement of the stakeholders identified by Eni is explained in. MDPI and/or ; Wilkins, A.L. Towards circular economy implementation: A comprehensive review in context of manufacturing industry. The annual WCEF, a global initiative of Finland and the Finnish Innovation Fund (Sitra), presents the world's leading circular economy solutions with business leaders, policymakers and experts participating from around the world. In this regard, through stakeholder engagement and a review of traditional business models, the circular economy can contribute to transforming the corporate culture to ensure the concurrent enhancement of economic, social, and environmental dimensions. Thus, this study contributes to the existing stakeholder engagement literature and sheds light on the practical implications and emerging issues. In order to assess Enis stakeholder engagement, a two-step content analysis was carried out: first, attention was focused on underlying the most relevant company statements about engaging stakeholders in moving toward circular economy; second, stakeholder engagement indicators, disclosed in Enis sustainability reports, were checked in terms of compliance to Sustainability Report guidelines formulated by the Global Reporting Initiative (GRI). Transitioning to a Circular Economy Overview Enabling more responsible production and consumption via the principles of a circular economy is crucial for addressing various global challenges such as climate change and biodiversity loss. In particular, this approach assumed that disclosure frequency is an indicator of the topics importance [, Data manipulation was carried out according to stages identified by Miles et al. In. ; Northcott, D. Qualitative generalising in accounting research: Concepts and strategies. Being the places where people live and work, consume and dispose, cities and regions play a fundamental role in the transition to the circular economy. Suppliers: They provide raw materials, which can be distinguished as either biological or technical nutrients when referring to the two main areas of an ecosystem (the biosphere and technosphere). This commitment is part of a broader relationship that Eni has been building and is committed to strengthen with its stakeholders on sustainability issues through initiatives on governance issues, dialogue with investors and targeted communication campaigns, participation in initiatives and international partnerships. Circular economy: Benefits, impacts and overlapping. Eni has been widely recognized, both by academics and practitioners, as a best practice champion with reference to its transition toward the circular economy and the implementation of sustainability principles. In order to verify this aspect, a content analysis was carried out with reference to Enis sustainability reports, interviews with the Head of Circular Economy, and other documents available on the web about Enis carbon neutrality strategy. Why one company is brewing beer out of recycled wastewater, Why 'creative destruction' could be a positive shift for the water industry, How should start-ups act in the face of recession? Create a free account and access your personalized content collection with our latest publications and analyses. 17 innovations accelerating the transition to a circular economy. Note that from the first issue of 2016, this journal uses article numbers instead of page numbers. But global change requires local action: cities are the future of the circular-economy transition. In this way, the life cycle of products is extended. Conceptualization, D.M.S. This model keeps materials within the economy as long as possible. Sustainability 2020, 12, 8641. Indeed, none of these studies has analyzed the relationships between the circular economy, stakeholder engagement, and sustainability culture. We can therefore state that Enis commitment to engage its relevant stakeholders is high, leading to the opportunity of verifying whether this behavior actually affects the firms cultural approach. Dyer, W.G. Given these new requirements for value creation related to the circular economy model, companies should seek opportunities to invest in the creation of durable relationships with their relevant stakeholders, thereby promoting a culture that enhances both economic and non-economic aspects. What we need is systemic change, so that sustainability doesn't only depend on consumer choices. A transformative attitude and the circularity platform are, for Eni, the basis for reinforcing a change already based on long-term relationships with local stakeholders, on the attention to the specificity of local communities and on listening to, and the inclusion of, stakeholders in advancing the new development model, This is why we at Eni have launched a new phase in the development of our business model, able to combine economic-financial and environmental sustainability, to supply energy and create value while at the same time achieving a reduction in our carbon footprint in line with the Paris Agreement, Following a phase of great transformation that began in 2014, which has allowed the Group to grow and diversify its portfolio, at the same time strengthening its financial organisation, Eni is ready for a new phase in the development of its business model which, strongly oriented towards the creation of long-term value, combines economic/financial and environmental sustainability. In this regard, Eni states that, The evolution towards a circular economy model represents an opportunity for change which, by protecting natural capital, pursues sustainable development towards a low-carbon economy, able to adapt and respond suitably to an increasingly complex socio-economic-environmental context. Boesso, G.; Kumar, K. Stakeholder prioritization and reporting: Evidence from Italy and the US. The circular supplier model: this model is based on the use of renewable energies and completely recyclable and biodegradable materials instead of single-lifecycle materials; The resource recovery model: this model is characterized by the conservation of resources and energy from products that will be discarded; The product life extension model: this model refers to the lengthening of product and service lifecycles through repair, upgrades, and reselling; The sharing platforms model: this model focuses on the sharing available resources by taking advantage of related synergic effects; and, The product as a service model: this model concentrates on opportunities for companies to retain ownership of their products throughout their usage, thus replacing the buy and own model. () conferences, debates, seminars and training initiatives on sustainability issues (energy, circular economy, remediation, corporate social responsibility); implementation of guidelines and sharing of best practices, We work with institutions and international bodies on projects for technological innovation, care for the environment and support for local communities. The research was based on the assumption that disclosure frequency is an effective indicator of the topics relevance [. Toward a theory of stakeholder identification and salience: Defining the principle of who and what really counts. Innovative Business Models and Technologies to Create Value in a World without Limits to Growth, Leading the Sustainable Organization: Development, Implementation, and Assessment, Organizational Citizenship Behavior: The Good Soldier Syndrome, Cradle to Cradle: Remaking the Way We Make Things, Management for a Small Planet: Strategic Decision Making and the Environment, Cultures Consequences: International Differences in Work-Related Values, The Impact of a Corporate Culture of Sustainability on Corporate Behavior and Performance, Cultural Sustainability and Regional Development: Theories and Practices of Territorialisation, The Globalization of Corporate Environmental Disclosure: Accountability or Greenwashing, Content Analysis: An Introduction to its Methodology, Qualitative Data Analysis: A Methods Sourcebook, The 2030 Agenda for Sustainable Development, Sustainable Policy Measures Based on Implementation of Digital Technologies in Corrections: Exploratory Study from Slovakia and Beyond, Light Emitting Diode (LED) Usage in Organizations: Impact on Environmental and Economic Performance, Economic and Business Aspects of Sustainability, Tables S1S3 (in the Supplementary Materials), https://www.mdpi.com/2071-1050/12/20/8641/s1, http://open.library.ubc.ca/cIRcle/collections/ubctheses/831/items/1.0055214, https://sustainabledevelopment.un.org/content/documents/5987our-common-future.pdf, https://www.eni.com/en-IT/just-transition/business-model.html, https://www.eni.com/en-IT/just-transition/stakeholders-relationship.html, https://www.eni.com/assets/documents/eng/just-transition/2019/Eni-for-2019-Sustainability-performan-ce.pdf, http://creativecommons.org/licenses/by/4.0/, Training initiatives to support inclusion, Meeting with Trade Unions to address specific countrys issues, Meetings with investors and financial analysis, Consultation of local communities and authorities, Human rights assessment and introduction of specific clauses in upstream joint venture contracts, Communication, feedback, and improvement plans, Meetings with local Consumers Associations on circular economy and sustainability issues, Sponsorship of Consumers initiatives on sustainability and circular economy, Survey on circular economy, sustainability, and energy transition, National, European and International Institutions, Meetings with national political institutions on energy, climate, and environmental issues, Participation to the technical round tables and meetings promoted by Italian Government, Visits by the Italian institutions delegations to Eni industrial plants, sites and research centers, Meetings with universities, research centers, Research agreements with universities and research centers on sustainable development, Volunteer organizations and category associations, Conferences, debates, seminars, and training initiatives on sustainability issues, Implementation of guidelines and sharing of best practices, Participation to the meetings organized by the category associations, Organizations for cooperation and development, Development of new public-private partnership models, Dialogue with United Nations organizations and cooperation agencies, of which: transportation and distribution of products, of which: business travel and employees commuting.
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