Framework for assessing the sustainability of ESG performance in industrial cluster ecosystems in a circular economy

The study conceptualizes the ecosystem of an industrial cluster based on circular economy as an umbrella for co-evolving concepts, such as circular economy, cluster economy and industrial ecology (also comprising the concepts of industrial symbiosis and its subcategory, industrial mutualism). We pro...

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Main Authors: Aleksandr Babkin, Elena Shkarupeta, Larissa Tashenova, Ekaterina Malevskaia-Malevich, Tatiana Shchegoleva
Format: Article
Language:English
Published: Elsevier 2023-06-01
Series:Journal of Open Innovation: Technology, Market and Complexity
Subjects:
Online Access:http://www.sciencedirect.com/science/article/pii/S2199853123001737
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author Aleksandr Babkin
Elena Shkarupeta
Larissa Tashenova
Ekaterina Malevskaia-Malevich
Tatiana Shchegoleva
author_facet Aleksandr Babkin
Elena Shkarupeta
Larissa Tashenova
Ekaterina Malevskaia-Malevich
Tatiana Shchegoleva
author_sort Aleksandr Babkin
collection DOAJ
description The study conceptualizes the ecosystem of an industrial cluster based on circular economy as an umbrella for co-evolving concepts, such as circular economy, cluster economy and industrial ecology (also comprising the concepts of industrial symbiosis and its subcategory, industrial mutualism). We propose an algorithm for estimating the circularity index in an industrial cluster ecosystem as a metric of sustainable ESG performance. The algorithm consists in calculating the integral circularity index of an industrial cluster ecosystem and its inverse, the circular gap. The algorithm developed relies on calculating the estimates for four projections: waste and emissions; consumption efficiency; resource efficiency; investments in environmental protection. We then formulated the key drivers of successful ESG strategies in circular industrial ecosystems, also providing metrics, evidence-based data and measurements of the progress in bridging the circularity gap. We used statistical data available from the Rosstat SDG Platform, Platform for Intelligent Environmental Monitoring, Our World in Data, and Food and Agriculture Organization. The approach was validated for an industrial cluster ecosystem based on the circular economy model, evolving in the Russian Federation from 2012 to 2021. The practical significance of our findings is that the theoretical framework, along with the insights gained and the recommendations developed, can be used for integrating the policies based on sustainable development, environmental management, ESG transformation, circular economy, closed-loop economy for industrial ecosystems. The results obtained can serve for constructing strategies, policies, programs, roadmaps and business models for circular industrial ecosystems at the macro-, meso- and micro-levels.
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spelling doaj.art-f8f21239b7d34c498ac80f798bcaa56e2023-12-14T05:22:19ZengElsevierJournal of Open Innovation: Technology, Market and Complexity2199-85312023-06-0192100071Framework for assessing the sustainability of ESG performance in industrial cluster ecosystems in a circular economyAleksandr Babkin0Elena Shkarupeta1Larissa Tashenova2Ekaterina Malevskaia-Malevich3Tatiana Shchegoleva4Institute of Industrial Management and Economics, Peter the Great St.Petersburg Polytechnic University (SPbPU), 195251 St.Petersburg, RussiaInstitute of Industrial Management and Economics, Peter the Great St.Petersburg Polytechnic University (SPbPU), 195251 St.Petersburg, Russia; Correspondence to: Peter the Great St Petersburg Polytechnic University, 195251 St.Petersburg, Russia.Institute of Industrial Management and Economics, Peter the Great St.Petersburg Polytechnic University (SPbPU), 195251 St.Petersburg, RussiaInstitute of Industrial Management and Economics, Peter the Great St.Petersburg Polytechnic University (SPbPU), 195251 St.Petersburg, RussiaDepartment of Digital and Industrial Economics, Voronezh State Technical University (VorSTU), 394006 Voronezh, RussiaThe study conceptualizes the ecosystem of an industrial cluster based on circular economy as an umbrella for co-evolving concepts, such as circular economy, cluster economy and industrial ecology (also comprising the concepts of industrial symbiosis and its subcategory, industrial mutualism). We propose an algorithm for estimating the circularity index in an industrial cluster ecosystem as a metric of sustainable ESG performance. The algorithm consists in calculating the integral circularity index of an industrial cluster ecosystem and its inverse, the circular gap. The algorithm developed relies on calculating the estimates for four projections: waste and emissions; consumption efficiency; resource efficiency; investments in environmental protection. We then formulated the key drivers of successful ESG strategies in circular industrial ecosystems, also providing metrics, evidence-based data and measurements of the progress in bridging the circularity gap. We used statistical data available from the Rosstat SDG Platform, Platform for Intelligent Environmental Monitoring, Our World in Data, and Food and Agriculture Organization. The approach was validated for an industrial cluster ecosystem based on the circular economy model, evolving in the Russian Federation from 2012 to 2021. The practical significance of our findings is that the theoretical framework, along with the insights gained and the recommendations developed, can be used for integrating the policies based on sustainable development, environmental management, ESG transformation, circular economy, closed-loop economy for industrial ecosystems. The results obtained can serve for constructing strategies, policies, programs, roadmaps and business models for circular industrial ecosystems at the macro-, meso- and micro-levels.http://www.sciencedirect.com/science/article/pii/S2199853123001737Industrial ecosystemCircular economyClusterCircularity gapCircularity indexESG
spellingShingle Aleksandr Babkin
Elena Shkarupeta
Larissa Tashenova
Ekaterina Malevskaia-Malevich
Tatiana Shchegoleva
Framework for assessing the sustainability of ESG performance in industrial cluster ecosystems in a circular economy
Journal of Open Innovation: Technology, Market and Complexity
Industrial ecosystem
Circular economy
Cluster
Circularity gap
Circularity index
ESG
title Framework for assessing the sustainability of ESG performance in industrial cluster ecosystems in a circular economy
title_full Framework for assessing the sustainability of ESG performance in industrial cluster ecosystems in a circular economy
title_fullStr Framework for assessing the sustainability of ESG performance in industrial cluster ecosystems in a circular economy
title_full_unstemmed Framework for assessing the sustainability of ESG performance in industrial cluster ecosystems in a circular economy
title_short Framework for assessing the sustainability of ESG performance in industrial cluster ecosystems in a circular economy
title_sort framework for assessing the sustainability of esg performance in industrial cluster ecosystems in a circular economy
topic Industrial ecosystem
Circular economy
Cluster
Circularity gap
Circularity index
ESG
url http://www.sciencedirect.com/science/article/pii/S2199853123001737
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AT larissatashenova frameworkforassessingthesustainabilityofesgperformanceinindustrialclusterecosystemsinacirculareconomy
AT ekaterinamalevskaiamalevich frameworkforassessingthesustainabilityofesgperformanceinindustrialclusterecosystemsinacirculareconomy
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