With reference to the specific goal of reducing downstream emissions, Eni explains that: We have introduced circular economy initiatives in the downstream sector where, as the first company in the world to have converted a traditional refinery into a biorefinery in Venice, we have attained a biorefining capacity of 0.66 M tonnes/year in 2019, aiming to reach around 1 M tonnes/year from 2021, thanks to the conversion of the refinery in Gela. This inefficient model is pushing our planet to the brink, driving the climate crisis, and depleting the resources we need to support more equitable and thriving communities in the future. A growing awareness of the ethical and sustainable standards of all those who work with us led to the creation of the JUSTJoin Us in a Sustainable Transition programme, a path of common growth, on which the principles of environmental protection, social equality, and economic development are an integral part of all the goods, works, and services provided to us, through tangible action and with a measurable impact. See further details. In order to be human-readable, please install an RSS reader. ; Rana, P.; Evans, S. A literature and practice review to develop sustainable business model archetypes. Collaboration with the Polytechnic of Milan in the organization of the Masters in Energy Innovation and for the development of Impact Assessment Models. An assessment of material flows, waste production and recycling in the European Union and the world in 2005. We all need to come together governments, policymakers, civil society and communities to be better consumers. 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Managing for stakeholders: The role of stakeholder-based management in project process. In particular, the engagement of different stakeholders during the transition toward the circular economy model promotes the establishment and diffusion of principles on which the sustainability culture is based. Boesso, G.; Kumar, K. Stakeholder prioritization and reporting: Evidence from Italy and the US. 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. Egri, C.; Herman, S. Leadership in the North American environmental sector: Values, leadership styles, and contexts of environmental leaders and their organizations. Addressing rural water supply gaps with performance-based financing: lessons from Vietnam, Towards a circular economy: Addressing the waste management threat. We argued that transition to the circular economy poses several important challenges for most companies. For most companies the stretch is large . ; Slocum, J.W. Managing stakeholder relations when developing sustainable business models: The case of Brazilian energy sector. 17 innovations accelerating the transition to a circular economy The engagement of different stakeholders as part of the transition toward the circular economy model is explained below. Circular economy: Benefits, impacts and overlapping. Salvioni, D.M. Image:Biohm. Ghisellini, P.; Cialiani, C.; Ulgiati, S. A review on circular economy: The expected transition to a balanced interplay of environmental and economic systems. In this context, there is an imperative need to move on from the traditional linear economic model (take-make-dispose) and adopt sustainable alternatives such as the waste hierarchy and circular economy approaches. 5 investors share their advice, This innovative model links corporations with farmers to improve water security in Latin America, These refill innovations are stemming the flood of single-use plastics, Managing Director and Global Circular Economy Lead, is affecting economies, industries and global issues, with our crowdsourced digital platform to deliver impact at scale. Parker, L.D. Department of Economics and Management, University of Brescia, 25121 Brescia BS, Italy. Belal, A.R. Transition to the Circular Economy: Implications to - ResearchGate Rethinking the market economy. ; Wood, D.J. In fact, circular economy culture can be perceived as a precautionary approach, given its emphasis on limiting resource use. "Transitioning Toward a Circular Economy: The Impact of Stakeholder Engagement on Sustainability Culture" Sustainability 12, no. Cookies cannot read data off your hard disk or read cookie files created by other sites. Towards a managerial practice of stakeholder engagement: Developing multi-stakeholder learning dialogues. This analysis represented a fully inclusive project to allow the broadest possible participation, with a survey in 11 languages (). Marens, R.; Wicks, A. Andriof, J.; Waddock, S. Unfolding stakeholder engagement: Theory, responsibility and engagement. The first group is composed of internal stakeholders (employees and shareholders) together with universities and research centers, considering their capacity to affect the core cultural conditions. Thus, the cultural view of corporate governance bodies, which should be shared by the entire organization, should increasingly include principles such as responsible consumption, reduction of waste and polluting materials, and the maximum reuse of resources. 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. Thus, it is necessary to understand that the costs of reuse are lower than those borne for disposal [, It is also important to establish a cultural perspective promoting the change required by the transition to a circular economy. 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. CSR communication strategies and stakeholder engagement of upscale hotels in social media. 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Please note that many of the page functionalities won't work as expected without javascript enabled. During the 20th century, the world's use of raw materials grew at twice the rate of population growth. Frederick, W.C. Theories of corporate social performance. All articles published by MDPI are made immediately available worldwide under an open access license. Economic Progress. https://doi.org/10.3390/su12208641, Salvioni DM, Almici A. Transitioning Toward a Circular Economy: The Impact of Stakeholder Engagement on Sustainability Culture. 1987. It is clear that the selection of corporate governance bodies aligned to these views is a necessary condition for the establishment and diffusion of a corporate culture that considers trade-offs between economic and non-economic dimensions. EIB at the WCEF2023: Scaling up financing for the circular economy and Role of culture in low carbon supply chain capabilities. The circular economy is a model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products as long as possible. ; Hultink, E.J. With reference to its suppliers, Eni explains that, [the company] is also carrying out numerous engagement initiatives with suppliers, for example: local meetings for local companies, organized in collaboration with trade associations and/or local authorities, during which Enis sustainability values and principles are illustrated (). ; Wicks, A.C.; Pamar, B.L. Online event. Moreover, Eni is aware about the contributions of different stakeholders to the establishment and diffusion of its own corporate culture. Consumer awareness of sustainability is on the rise globally, with the majority of consumers saying they expect brands to do what is right. The current study contributes to the existing literature on stakeholder engagement, with its focus on the transition process toward adopting the circular economy model. This isn't only about consumers buying too much and recycling too little. nal, E.; Urbinati, A.; Chiaroni, D. Managerial practices for designing circular economy business models. We believe in long-term partnerships with the countries and communities where we operate, to create lasting value for everyone. The engagement of key stakeholders should be based on an integrated strategic approach related to the so-called third generation and identified by the above-mentioned standard in order to involve different stakeholders in the companys efforts to achieve the selected goals. 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 addition to the technical training courses for the functions directly involved, online training courses on climate change and energy transition have been created and are available to all employees. Image: Biohm Emanuela Orsini Digital Content Specialist, World Economic Forum Our Impact This research paper aims to redress this by considering how 'just transition' and social equity may be achieved through polic y and practice. Moreover, Eni is a leader in stakeholder engagement, demonstrating that this approach can actually contribute to the diffusion of a strong sustainability culture at every corporate level; in this regard, this study is based on a broad meaning of sustainability culture, mainly relating to the efforts spent and general results achieved, even if some flaws still need to be addressed. Project relationship management and the stakeholder circle. The importance of stakeholder engagement continues to grow, given its relevance as an approach that supports the success of a circular economy model and the establishment of a sustainability culture, which assumes a broad meaning in this study. ; Harrison, J.S. The core principle of a circular economy is that products should be designed to last, with component parts or materials that can be used again. The research was based on the assumption that disclosure frequency is an effective indicator of the topics relevance [. The interaction with different audiences occurs daily and constantly over time, with a specific focus on collective agreements, via trade unions, when necessary; these aspects are clearly underlined also in Enis sustainability reports, which have been investigated through a thematic analysis approach. The above statements underline Enis commitment to improving the cultural approach to sustainability issues. European Commission. the changes needed to It is a resilient system that is good for business, people and the environment. Kucukusta, D.; Perelygina, M.; Lam, S.W. Hopkinson, P.; Zils, M.; Hawkins, P.; Roper, S. Managing a complex global circular economy business model: Opportunities and challenges. () Additionally, the CEO constantly brings the Companys results in terms of reducing the carbon footprint of its activities and the actions needed to implement its carbon neutrality strategy to the attention of the employees. 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. The use of internet by older adults in Poland. Case studies enable the use of multiple sources of evidence, such as corporate documents, media releases, interviews, and websites, by collecting data within the context of the subject matter. Thus, Eni successfully attempted the transformation of waste to energy by leveraging on proprietary technologies after realizing the potential for its chemicals business, namely using introducing new processes and products involved with transforming waste plastics into secondary raw material. Alam, K. A systematic qualitative case study: Questions, data collection, NVivo analysis and saturation. Identify practical steps to optimize resource use, limit waste and maximize your circular potential. 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). Ahmed, P.K. Consider the fact that there is 100 times more gold in a ton of discarded mobile phones than there is in a ton of gold ore. This new perspective is clearly expressed in the principle introduced by Stahel: do not repair what is not broken, do not remanufacture something that can be repaired, do not recycle a product that can be remanufactured. It is one of the main building blocks of the European Green Deal, Europe's new agenda for sustainable growth. Consume Less The circular economy focuses on better use of natural resources, and the simple fact is that many of us consume far too much. MDBs join forces to accelerate circular economy transition ; Boha, J. Stakeholder engagement in intra- and inter-organizational innovation. Stakeholder Engagement, Knowledge Problems and Ethical Challenges. These machines have high upfront costs and are made from very valuable materials, so many companies are successfully using circular models where they take the product back and refurbish it or repurpose the materials. ; Bakker, C.A. However, although the case study methodology is not a sampling technique [, This work thus applied analytical generalization (rather than statistical generalization) to extend the results to other contexts characterized by key stakeholder engagement and promotion of a green culture based on sustainability principles and long-term value creation [. Tracks the visitor across devices and marketing channels. This work contributes to the existing literature by critically appraising the case study firms decisions about stakeholder engagement in order to optimize its transition toward cultural changes embracing sustainability. This awareness is an important source of cultural change with regard to environmental and community health protection. ; methodology, A.A.; formal analysis A.A.; investigation D.M.S. Mechanisms to realise the transition towards green economies are often not in place. The first notion expresses the orientation and perspective to be adopted to reduce the companys impacts on the environment. This inference is often criticized, as it implies limitations in generalizing the results; in scientific research, the selected sample should represent its population, thus enabling consequent generalization of the evidence. The Independent Evaluation Group evaluates the work of the World Bank Group to find what works, what doesn't, and why. The last decade has seen a welcome decrease in the production and consumption of physical CDs and DVDs. In a world where people in the richest countries consume 10 times as much as the poorest, there is a need for many of us to consume less and many others to consume more. 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. Kisa Zehra - Global Sustainability Thought Leadership Lead. Create a free account and access your personalized content collection with our latest publications and analyses. ; Calton, J.M. Adopting a circular business model improves market equity value. Indeed, positive stakeholder relationships are necessary for long-term value creation; they enable a company to listen to and engage with relevant stakeholders as well as diffuse values and principles aimed at protecting all the dimensions (economic, social, and environmental). Thus, the commitment and willingness to improve all the dimensions affected by a companys activities depend on its cultural framework and the awareness that the optimization of economic performance is closely linked to environmental and health protection. This series built on the UN Global Compact Network UKs 2022 Climate Action Summit Delivering a Net Zero Future, which explored how companies can understand their circularity performance and measure impact, design circular products and business models, and mobilise finance for a circular economy. How to assess stakeholders influence in project management? Thus, the indicators included in, The last dimensionembedded in sustainability cultureis the economic one, the indicators of which are included in. The social responsibility of international business: From ethics and the environment to CSR and sustainable development. Figure 1 shows additional activities a company will have to perform (or outsource) when switching from a linear-sales to a circular-leasing model. 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. Schwab Foundation for Social Entrepreneurship, Centre for the Fourth Industrial Revolution, Big ideas that could save the world: UpLink on this week's Radio Davos, Want to hear about the ideas solving the world's biggest challenges? The above-mentioned initiatives are aimed at maximizing the efficiency of the companys assets, increasing the use of low-carbon and emission-free energy sources, and implementing new technologies to capture CO, The mainstays of Enis circularity strategy are: sustainable raw material: that is, processing increasingly less virgin inputs and moving towards the use of materials of biological origin or derived from production process waste; reuse, recycling, and recovery: by processes for raw material recovery from waste products and reuse of water and land, as well as recovery of waste; and extension of useful life: giving new life to assets with a view of sustainability (). Eni is the worlds sixth-largest integrated energy company in terms of market value. Cogut, G.; Webster, N.J.; Marans, R.W. Promoting circular economy transition: A study about perceptions and Thus, this research has both practical and academic implications, as it identifies potential tools and useful approaches supporting the implementation of a circular economy as well as the achievement of internationally recognized sustainability goals [. ), and conducting continuous dialogue with standard setters and governments in order to orient regulation toward measures supporting investments in the circular economy. The European Investment Bank (EIB) is participating in the World Circular Economy Forum 2023 (WCEF 2023), from 30 May to 2 June in Helsinki, Finland. Visit our dedicated information section to learn more about MDPI. World Resources Institute 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. A weekly update of the most important issues driving the global agenda. Feature papers represent the most advanced research with significant potential for high impact in the field. During the World Circular Economy Forum (WCEF) 2023 in Helsinki, environment focussed directors from the leading Multilateral Development Banks (MDBs) met to discuss the topic of the circular economy for the first time. This is not just an environmental issue. Consolidated skills, technologies, innovation and research geographical differentiation of assets are the levers to strengthen a change based on the synergies among stakeholders, the industrial symbiosis and the cultural challenge. Galpin, T.J.; Whittington, J.L. Measuring Up 2.0: How the UK is performing on the Sustainable Development Goals. Most case-studies are inductive; this study started with documentary analysis, focusing on Enis 20152019 sustainability reports and other relevant Eni documents available on the web, including interviews with the Head of Bio Development, Sustainable Mobility, and Circular Economy about the companys transition to the circular economy model. 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. 2013-2023 The World Bank Group, All Rights Reserved. Marshall, D.; McCarthy, L.; McGrath, P.; Claudy, M. Going above and beyond: How sustainability culture and entrepreneurial orientation drive social sustainability supply chain practice adoption. Consumer pressure is a crucial part of the picture in encouraging businesses to change their practices and governments to introduce favorable policies. This 6-part series took a deeper dive into the specific challenges and opportunities related to the transition to a circular economy for key issue areas including: the built environment; critical metals and minerals; electronics; packaging; food & agriculture; and fashion & textiles. In. As well as JUST, we are introducing several innovations in the different phases of the procurement process: Stronger sustainability criteria when evaluating qualifications, Shared development plans to measure suppliers growth in relation to sustainability themes, The alignment of market intelligence tools with the co-design of technical specifications, focusing on social, economic, environmental and sustainable balance, The adoption of award mechanisms and sustainability bonuses for tenders, Thanks to a series of sharing and discussion tools, suppliers can contribute their ideas and put forward solutions to the technological challenges which we periodically launch, taking part in a joint effort towards the energy transition. [. In this regard, the organization shall integrate stakeholder engagement into all relevant policies and/or processes for strategy development [, Stakeholder engagement can help relevant stakeholders modify their behaviors and values, aligning then with new (business) models aimed at value creation in the long term by implementing the efficient reuse of resources and protecting ecosystems [. da Sampaio Rocha Soares, D.A. 21 circular economy solutions: changing how we eat, live and travel for a more sustainable world. Transitioning to a Circular Economy - Independent Evaluation Group To be specific, this study aims to verifying the following hypothesis: stakeholder engagement, with respect to circular economy principles, promotes the diffusion of sustainability culture. Eni. Moreno, M.; De los Rios, C.; Rowe, Z.; Charnley, F. A conceptual framework for circular design. It provides insights into the current state of the art on modelling policies to improve resource efficiency and the transition to a circular economy by examining 24 modelling-based assessments of a circular economy . Culture clashes. .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. Create a free account and access your personalized content collection with our latest publications and analyses. The Circular Economy (CE) transition is emerging as one of the most popular societal responses to environmental problems and in general to the achievement of a more sustainable development worldwide (D'Amato, 2021; Corvellec et al., 2020; Winans et al., 2017; Ghisellini et al., 2016, Su et al., 2013).The academic research in the field of CE is growing fast as is showed by the . The research findings underline that stakeholder engagementwith respect to circular economy principlescan improve sustainability culture. Mode of circular economy in Chinas iron and steel industry: A case study in Wuan city. Supplier engagement should promote the sharing and alignment of values between suppliers and customers in order to ensure that procurement takes place according to the principles of circularity and sustainability (e.g., preferring renewable and low-impact socio-environmental resources). A waste hierarchy approach prioritizes waste prevention, reuse, recycling, and recovery before disposal. Manila, Philippines, 17 October 2022 - Representatives from both the public and private sectors convened last 17 October in a national forum to amplify the call for the Philippines to transition to circular economy, amid the country's efforts to recover from the compounded impacts of the pandemic and the recurring climate-related disasters. The circular economy and net-zero | McKinsey Gregson, N.; Crang, M.; Fuller, S.; Holmer, H. Interrogating the circular economy: The moral economy of resource recovery in the EU. Cumming, J.F.
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