Squaring the circle: Refining the competitiveness logic for the circular bioeconomy

Abstract

The ‘circular bioeconomy’ may be a promising pathway to achieve multiple Sustainable Development Goals. The participation of private firm is critical for successful implementation of circular bioeconomy initiatives, which is often sought through a competitiveness logic. Many propose the circular bioeconomy will enhance firm competitiveness through the identification of new markets, the development of more sustainable products and processes, and the creation of new business models. Our aim in this paper is to stimulate a debate about how to carefully articulate the proposed link between the circular bioeconomy and firm competitiveness. We first conduct an interdisciplinary, systematic review of literature to examine the link between environmental sustainability initiatives and firm competitiveness. We draw several key lessons from this literature that must be considered in order to refine and strengthen the competitiveness logic within a circular bioeconomy context. In particular, we suggest construct clarity, methodological sophistication, ubiquity of bioeconomy adoption by private firms, and a clear vision of means and ends as four key considerations in fine-tuning and further articulating a competitiveness logic.