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The internalisation of the circular economy and ESG in Brazilian B Corps from the perspective of the Stakeholder Theory

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  • Maiara Marcon
  • Taís Provensi
  • Simone Sehnem
  • Lucila M. S. Campos
  • Adriane Angelica Farias Santos Lopes Queiroz

Abstract

The Circular Economy (CE) has been gaining attention as a means to reduce dependency on raw materials and achieve social, economic, and environmental outcomes. B Corporations aim to generate a positive impact, and by seeking certification that validates this premise, they are evaluated in aspects of governance, environment, customers, community, and workers. Such assessment demonstrates attention to various stakeholders and can promote good practices. This research aims to analyse how the circular economy is being internalised in Brazilian B Corps from the perspective of Stakeholder Theory. A total of 264 Brazilian B Corporations were identified, which constitute the units of analysis for the case study. Seventy‐six of these responded to questionnaires, and 12 B Corps participated in semi‐structured interviews. The results suggest that: (i) circular economy actions through the ReSOLVE framework are partially implemented by B Corps; (ii) circular economy practices require engagement with stakeholders, especially for the share and cycle actions of the ReSOLVE framework that mainly involve customers and the community; (iii) government and consumers were identified as key stakeholders for accelerating the circular economy. The contributions of this study include: (i) presentation of a typology that brings together exploratory theoretical propositions about strategic stakeholders, circular economy assumptions, and business models of B Corps; (ii) correlation between the ReSOLVE framework, B Impact Assessment, and stakeholder theory; (iii) identification of key stakeholders for accelerating the transition to the circular economy. For future studies, it is suggested to further investigate organisations with a high percentage of adoption of ReSOLVE framework actions to identify how stakeholders engage in environmental best practices.

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  • Maiara Marcon & Taís Provensi & Simone Sehnem & Lucila M. S. Campos & Adriane Angelica Farias Santos Lopes Queiroz, 2023. "The internalisation of the circular economy and ESG in Brazilian B Corps from the perspective of the Stakeholder Theory," Sustainable Development, John Wiley & Sons, Ltd., vol. 31(5), pages 3513-3527, October.
    • Handle: RePEc:wly:sustdv:v:31:y:2023:i:5:p:3513-3527
    DOI: 10.1002/sd.2601
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    2. Kaouther Chebbi, 2024. "Examining the interplay of sustainable development, corporate governance, and stock Price crash risk: Insights from ESG practices," Sustainable Development, John Wiley & Sons, Ltd., vol. 32(1), pages 1291-1309, February.
    3. Semee Yoon & Jae‐Yun Ho, 2025. "Delivering sustainable development via social innovation: Cases of social entrepreneurship in South Korea and Singapore," Sustainable Development, John Wiley & Sons, Ltd., vol. 33(1), pages 416-430, February.
    4. Cem Işık & Serdar Ongan & Hasibul Islam & Stefania Pinzon & Gul Jabeen, 2024. "Navigating sustainability: Unveiling the interconnected dynamics of ESG factors and SDGs in BRICS‐11," Sustainable Development, John Wiley & Sons, Ltd., vol. 32(5), pages 5437-5451, October.
    5. Cem Işık & Serdar Ongan & Hasibul Islam & Gul Jabeen & Stefania Pinzon, 2024. "Is economic growth in East Asia pacific and South Asia ESG factors based and aligned growth?," Sustainable Development, John Wiley & Sons, Ltd., vol. 32(5), pages 4455-4468, October.

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