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- Circular economy in corporate sustainability reporting: a review of organisational approachesPublication . Opferkuch, Katelin; Caeiro, Sandra; Salomone, Roberta; Ramos, Tomás B.A growing commitment from companies to implement circular economy (CE) strategies demands the development of guidelines for consistent related external communication. The fields of non-financial reporting and sustainability are well established with numerous available international reporting frameworks and approaches; however, there is still an absence of standardised reporting principles and procedures for publishing progress on circularity. In this context, this article aims to explore how companies could include CE within their corporate sustainability reports, through an academic literature review and content analysis of existent reporting approaches. Results showed a clear disconnection between CE and sustainability reporting literature. Overall, only a few of the revised reporting approaches explicitly mention CE, and the guidance given to companies is very general, inconsistent and places the responsibility of selecting performance assessment approaches on the companies. The analysis contributes to identifying opportunities for transparent external communication of CE issues, as well as exploring the challenges and limitations.
- The maturity level of the agri-food sector in the circular economy domain: a systematic literature reviewPublication . Scandurra, Federica; Salomone, Roberta; Caeiro, Sandra; Gulotta, Teresa MariaThe agri-food sector (AFS) is crucial in the transition towards sustainability. The Circular Economy (CE) has gained global attention as a tool to achieve it systemically. Nevertheless, it is necessary to understand the maturity level of circularity in the AFS. For that reason, this study aims to analyse, through a systematic and bibliometric literature review, examples of circularity in the sector at inter- and intra-company levels, considering case studies with a micro or meso perspective of analysis. The review was conducted using Scopus and Web of Science databases, identifying 43 peer-reviewed articles published from 2015 to the end of February 2022 and 162 practices. The review explored the maturity level of the agri-food sector in terms of circularity through the innovativeness of its practices. Results show that 51% of the practices have a conventional nature, whereas incremental and radical innovation represent 46% and 3% of the sample. The analysis also investigated, through content analysis, the links with Industrial symbiosis (IS), and sustainability, which remains poorly explored, especially in social terms. Although some limitations are present due to the research criteria, the study allows for deep diving into the characteristics of circularity in the sector by contributing to the definition of a database of circular best practices capable of driving practitioners towards its application and capturing challenges and potential ways of improvement.
- What is the relation between circular economy and sustainability?: answers from frontrunner companies engaged with circular economy practicesPublication . Walker, Anna Maria; Opferkuch, Katelin; Roos Lindgreen, Erik; Raggi, Andrea; Simboli, Alberto; Vermeulen, Walter J. V.; Caeiro, Sandra; Salomone, RobertaThe circular economy (CE) concept has become a major interest for companies, promising new business opportunities and a decrease in environmental impacts. Though research on circular business models has recently increased, few scholars have investigated how companies engaged with CE view the connection between CE and sustainability. To address this gap, this paper uses a semi-quantitative survey and semistructured interviews conducted with companies based in Italy and the Netherlands. Purposive sampling was employed to target firms associated with national and international CE networks, as these companies already engage with CE practices. The survey was distributed online to over 800 firms, of which 155 provided information on their understanding of the CE concept and its relationship with sustainability. The survey results are complemented through findings from 43 interviews with a subset of the survey respondents. The survey answers show that companies view CE as one of the tools to achieve sustainable development, particularly in the environmental domain, where the focus lies on environmentally friendly resource use. Yet, the respondents are less confident whether CE increases economic and social benefits of firms. Interviews show that a majority of respondents position sustainability as the overarching concept. However, most companies advocate that the private sector should strive for both sustainability and circularity, though the distinction between the two concepts in daily business operations seems synthetic and futile to some. These findings provide an important stepping stone for better understanding how firms could apply CE practices to move towards a more sustainable society.
- Exploring assessment practices of companies actively engaged with circular economyPublication . Roos Lindgreen, Erik; Opferkuch, Katelin; Walker, Anna Maria; Salomone, Roberta; Reyes, Tatiana; Raggi, Andrea; Simboli, Alberto; Vermeulen, Walter; Caeiro, SandraAn emerging research area is dedicated to developing approaches for assessing the ‘circularity’ of companies and their products, within the context of sustainability goals. However, empirical evidence on the uptake of these assessment approaches remains scarce. Using a purposive sampling, we conducted a survey receiving 155 responses and held 43 semi-structured interviews with Dutch and Italian companies active in circular economy (CE), pursuing three research aims: to explore the use of CE and sustainability assessment approaches; to study the process of developing assessment approaches; and to uncover benefits of—and barriers to—CE assessment. While we find high variability of assessment approaches, most often, companies develop tailor-made sustainability indicators and apply life cycle assessments to CE strategies. Importantly, assessment development for CE practices requires and facilitates collaboration with external stakeholders. Finally, we reflect on the paradox of standardisation versus tailoring of assessment approaches within the CE reality and recommend establishing company needs and capabilities before designing assessment approaches.
- Towards a framework for corporate disclosure of circular economy: company perspectives and recommendationsPublication . Opferkuch, Katelin; Walker, Anna Maria; Roos Lindgreen, Erik; Caeiro, Sandra; Salomone, Roberta; Ramos, Tomás B.Circular economy (CE) is becoming an increasingly mandatory material issue within corporate sustainability reporting, however, what remains unaddressed within literature are the perspectives and capacities of the companies which must soon adapt to meet the evolving reporting requirements. This research aims to capture insights from companies engaged with CE in order to develop recommendations that support the integration of CE within corporate sustainability reports. To do this, a series of semi-structured interviews and focus groups were conducted with companies operating in Italy or the Netherlands, not limited by sector. The results provide a list of challenges experienced- and benefits gained- by companies from externally communicating CE. Companies are urged to consider not only risks associated with staying in the linear economy but also those associated with the implementation of new circular practices, to communicate potential sustainability trade-offs and reduce potential claims of CE-related greenwashing. Practical recommendations are offered for developing targets and indicators for CE as well as identifying and reporting CE-specific risks and opportunities.
- Circular economy disclosure in corporate sustainability reports: the case of European companies in sustainability rankingsPublication . Opferkuch, Katelin; Caeiro, Sandra; Salomone, Roberta; Ramos, Tomás B.Circular economy (CE) continues to become an increasingly important topic within disclosure frameworks and taxonomies for sustainable finance, however, early evidence points to CE not readily being included within corporate sustainability reports. Therefore, this research aims to explore how CE is emerging within the sustainability reports of companies listed in sustainability rankings. More specifically, the presence of CE within five corporate sustainability reporting elements has been investigated (when applicable): (i) the Chief Executive Officer's message, (ii) non-financial materiality assessments, (iii) references to the Sustainable Development Goal framework, (iv) targets, and (v) indicators. Qualitative and quantitative content analysis techniques were utilised to review 138 reports published in 2020 from 94 European companies, not restricted by sector. Results showed that nearly all companies are explicitly referencing CE, however, only 7% of them integrate CE within all five sustainability reporting elements. Less than one third of companies were found to include both targets and indicators for CE suggesting that overall, CE content within sustainability reports is largely superficial and inconsistent. This investigation contributes a descriptive overview of current CE reporting trends and shortcomings, as well as detailing implications relevant for academia and practitioners developing sustainability reports and/or CE assessments. The transition towards a CE requires transparency, therefore, further research and engagement is needed to better define the value of CE within external corporate communication.