Proceedings of The 2nd International Conference on Applied Research in Management, Economics and Accounting
Corporate Strategies for a Circular Economy: A Comparative Study of Energy Companies
Daisy de Selliers, Catalina Spataru
The Circular Economy (CE) concept is considered as an approach to ensure sustainable development and minimise environmental impacts of economic activities. However, its implementation in businesses appears in its infancy. Achieving the CE requires changes and innovation at technical, organisational and supply chain level. Through an exploration of the literature on the integration of the CE in business strategies and a case study analysis of selected energy companies, this paper aims at highlighting circular measures already implemented and circular opportunities embeddable in business models. Findings suggest that case companies are active in waste management, resource efficiency, sustainable procurement, energy recovery techniques and low carbon generation. However, few case companies mention the concept of CE as part of their business model. In particular, systematic approach for planning for end-of-life plants and products, as well as multi-stakeholders collaboration for waste and resource use optimisation could support the CE transition. The paper proposes directions for further research: in-depth analyses focusing on supply chains, development of a methodological approach to support decision-making and definition of global consensus and consistent objectives to achieve sustainability.
Keywords: Corporate Strategy, Strategic Management, Sustainable Development, Circular Economy, Circular Business Models, Corporate Sustainability.