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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Format: | Article |
Language: | English |
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Elsevier
2023-06-01
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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. |
first_indexed | 2024-03-08T23:39:16Z |
format | Article |
id | doaj.art-f8f21239b7d34c498ac80f798bcaa56e |
institution | Directory Open Access Journal |
issn | 2199-8531 |
language | English |
last_indexed | 2024-03-08T23:39:16Z |
publishDate | 2023-06-01 |
publisher | Elsevier |
record_format | Article |
series | Journal of Open Innovation: Technology, Market and Complexity |
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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