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Sustainability strategy and blockchain-enabled life cycle assessment: a focus on materials industry

Author

Listed:
  • David Teh

    (RMIT University)

  • Tehmina Khan

    (RMIT University)

  • Brian Corbitt

    (RMIT University)

  • Chin Eang Ong

    (RMIT University)

Abstract

Sustainable development, especially with the 2030 Agenda for Sustainable Development and its Sustainable Development Goals (SDGs), has been a priority of corporations. Nevertheless, processes which are required to deliver both changes and impact to create a sustainable organization have been slow and challenging. The purpose of this research is first to explore the extent and nature of eco-sustainability policy and strategy implementation of Materials Industry Group (MIG) companies listed on the Australian Securities Exchange (ASX). The analysis shows that strategy is the core element for organizational sustainable development and strategy needs to be implemented at the enterprise-wide level and aligned with other dimensions within the McKinsey Seven S’s (7S’s) framework. The capabilities of life cycle assessment (LCA) that provides a holistic assessment of environmental impacts of products, from upstream and downstream perspectives, is under-explored. The case companies used in this research find it challenging to implement LCA. This research adds an additional dimension to the existing framework, suggesting the possibilities of adopting blockchain technology in strategizing sustainability strategy. Blockchain in the systems of the framework can be used in LCA to support sustainability and help organizations to achieve their targeted SDGs.

Suggested Citation

  • David Teh & Tehmina Khan & Brian Corbitt & Chin Eang Ong, 2020. "Sustainability strategy and blockchain-enabled life cycle assessment: a focus on materials industry," Environment Systems and Decisions, Springer, vol. 40(4), pages 605-622, December.
    • Handle: RePEc:spr:envsyd:v:40:y:2020:i:4:d:10.1007_s10669-020-09761-4
    DOI: 10.1007/s10669-020-09761-4
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    3. Su, Dan & Zhang, Lijun & Peng, Hua & Saeidi, Parvaneh & Tirkolaee, Erfan Babaee, 2023. "Technical challenges of blockchain technology for sustainable manufacturing paradigm in Industry 4.0 era using a fuzzy decision support system," Technological Forecasting and Social Change, Elsevier, vol. 188(C).
    4. Vincent Carrières & Andrée-Anne Lemieux & Manuele Margni & Robert Pellerin & Sylvain Cariou, 2022. "Measuring the Value of Blockchain Traceability in Supporting LCA for Textile Products," Sustainability, MDPI, vol. 14(4), pages 1-15, February.
    5. Zachary A. Collier & James H. Lambert & Igor Linkov, 2020. "Analytics and decision-making to inform public policy in response to diverse threats," Environment Systems and Decisions, Springer, vol. 40(4), pages 463-464, December.
    6. George Lăzăroiu & Luminița Ionescu & Mihai Andronie & Irina Dijmărescu, 2020. "Sustainability Management and Performance in the Urban Corporate Economy: A Systematic Literature Review," Sustainability, MDPI, vol. 12(18), pages 1-13, September.
    7. Jittima Wichianrak & Tehmina Khan & David Teh & Steven Dellaportas, 2023. "Critical Perspectives of NGOs on Voluntary Corporate Environmental Reporting: Thai Public Listed Companies," Sustainability, MDPI, vol. 15(7), pages 1-24, April.
    8. Magdalena Rusch & Josef‐Peter Schöggl & Rupert J. Baumgartner, 2023. "Application of digital technologies for sustainable product management in a circular economy: A review," Business Strategy and the Environment, Wiley Blackwell, vol. 32(3), pages 1159-1174, March.
    9. Junia A. Purwandani & Gilbert Michaud, 2021. "What are the drivers and barriers for green business practice adoption for SMEs?," Environment Systems and Decisions, Springer, vol. 41(4), pages 577-593, December.
    10. Xuda Lin & Xing Li & Sameer Kulkarni & Fu Zhao, 2021. "The Application of Blockchain-Based Life Cycle Assessment on an Industrial Supply Chain," Sustainability, MDPI, vol. 13(23), pages 1-15, December.

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