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A special issue of Energies (ISSN 1996-1073). This special issue belongs to the section "C: Energy Economics and Policy".

Deadline for manuscript submissions: closed (15 November 2022) | Viewed by 51312

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Special Issue Editors

Prof. Dr. Viktor Koval

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Guest Editor

Department of Business and Tourism Management, Izmail State University of Humanities, 68600 Izmail, Ukraine
Interests: circular economy; sustainability; resource management; enviromental economics
Special Issues, Collections and Topics in MDPI journals

Prof. Dr. Dzintra Atstaja

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Guest Editor

Department of Management, BA School of Business and Finance, LV1013 Riga, Latvia
Interests: green economy; circular economy; design on sustainability; business control systems and management
Special Issues, Collections and Topics in MDPI journals

Prof. Dr. Ilona Skačkauskienė

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Guest Editor

Faculty of Business Management, Vilnius Gediminas Technical University, Vilnius, Lithuania
Interests: sustainable regional development; management of services; customer loyalty; management theories and its application

Special Issue Information

Dear Colleagues,

This Special Issue is focused on the wide-ranging topic of “New Insights into Circular Economy and Sustainable Development” and related to the implementation of the Green Deal Strategies in sectors of the economy and raw materials to ensure clean energy, sustainable industry, construction and renovation, sustainable mobility, pollution reduction, and climate action. This Special Issue covers a wide range of topical issues of sustainable natural resources management, circular economy, environmental management, and renewable energy. More specifically, the Special Issue will cover all the major and minor topics which help to find solutions for circular the economy and sustainable development problems, such as climate protection, sustainable natural resources management, regulation on sustainable investments, energy economics, environmental economics, environmental management, inclusive nature of green transition, renewable energy, smart energy materials sustainability and development, knowledge economy, and management and financing of the green transition. Manuscripts on interdisciplinary research are especially welcome.

Prof. Dr. Viktor Koval
Prof. Dr. Dzintra Atstaja
Prof. Dr. Ilona Skačkauskienė
Guest Editors

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Keywords

circular economy business models
environmental economics and corporate social responsibility
environmental management
green human resource management
inclusive nature of green transition
knowledge economy
management and financing the green transition
rational use of nature resources
regulation on sustainable investments
renewable energy
sustainable finance and circular economy
sustainable natural resources management

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Published Papers (13 papers)

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Research

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29 pages, 11614 KiB

Open AccessArticle

An Integrated Methodology for Scenarios Analysis of Low Carbon Technologies Uptake towards a Circular Economy: The Case of Orkney

by Selman Sevindik and Catalina Spataru

Energies 2023, 16(1), 419; https://doi.org/10.3390/en16010419 - 29 Dec 2022

Cited by 1 | Viewed by 2364

Abstract

This study aims to create a comprehensive, holistic approach to evaluate the environmental, energy, and economic impacts of air source heat pump deployment scenarios through: (i) a life cycle assessment of air source heat pumps in Orkney houses, (ii) energy systems optimisation modelling to optimise the performance of an air source heat pump coupled with thermal energy storage tank to reduce use phase related impacts in Orkney, (iii) modelling of Orkney’s domestic building stock to understand the housing condition, and (iv) economic modelling to analyse the life cycle cost of an air source heat pump and potential savings when replacing conventional heating systems. The results show that an 82% reduction in energy supply could be achieved when ambitious energy efficiency improvement measures are adopted in the circular economy scenario. The use phase related emissions could be reduced by 98% when the air source heat pump becomes the only heating technology in Orkney. However, the life cycle-wide approach suggests that strong commitments are required in the manufacturing stage of these technologies through implementing circular principles, such as including the use of secondary materials, eco-design, and reusability of all components. Moreover, total heating costs paid by consumers in Orkney could be reduced by 84% in the circular economy scenario when air source heat pump uptake is coupled with energy efficiency improvement measures, but it requires a £130 million investment to insulate the whole housing stock of Orkney. Future scenarios indicate that decision-making has significant importance on overall results. Therefore, circular economy standards for air source heat pump manufacturing and deployment are crucial to reduce the negative impacts of fuel poverty and reach the net zero target. Full article

(This article belongs to the Special Issue New Insights into Circular Economy and Sustainable Development)

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18 pages, 6664 KiB

Open AccessArticle

Achievement of Sustainable Development Goals through the Implementation of Circular Economy and Developing Regional Cooperation

by Natālija Cudečka-Puriņa, Dzintra Atstāja, Viktor Koval, Māris Purviņš, Pavlo Nesenenko and Oleksandr Tkach

Energies 2022, 15(11), 4072; https://doi.org/10.3390/en15114072 - 1 Jun 2022

Cited by 16 | Viewed by 4280

Abstract

Circular economy is a tool based on the inclusion of environmental, social, and governance performance (ESG) in decision-making to achieve sustainable development goals (SDG). In recent years, it has become clear that business-as-usual has nothing to do with sustainability, and alternative business models, primarily on technological grounds, must be implemented to mitigate the damage caused by significant and unpredictable effects of climate change. The current situation requires unprecedented and urgent changes to policies and business development models. The current research aimed to target on industrial symbiosis as one of the business models of the circular economy. It evaluated the benefits of symbiosis and the fostering of cooperation between industries and, consequently, has a major impact on resource efficiency ratios. The research is based on quantitative and qualitative research methods, including a literature review, assessment, and application of the triangulation method. As a result of this research, the authors realized a matrix for the development of regional or cross-country industrial symbiosis that can be used by policymakers to foster the development of symbiotic interconnections on a wide scale. The authors also recommend the development of the Baltic University Program (BUP) network center of excellence and methodological justification for industries to engage in industrial symbiosis (IS). Full article

(This article belongs to the Special Issue New Insights into Circular Economy and Sustainable Development)

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24 pages, 2119 KiB

Open AccessArticle

Evaluating the Transition of the European Union Member States towards a Circular Economy

by Joanicjusz Nazarko, Ewa Chodakowska and Łukasz Nazarko

Energies 2022, 15(11), 3924; https://doi.org/10.3390/en15113924 - 26 May 2022

Cited by 14 | Viewed by 3087

Abstract

This paper presents the assessment of the European Union member states in terms of the circular economy (CE) targets, using a combination of the Data Envelopment Analysis (DEA) method and factor analysis. This approach fills in the existing knowledge gap by providing an innovative methodology of an objectivised comparative evaluation of the degree of implementation of the CE principles by the EU countries. Assessing countries’ performance in achieving the goals of the circular economy is a challenge due to the lack of a generally accepted methodology, the multitude of indicators, and the insufficient data. Countries may be compared in a narrow way, according to single indicators, but a more holistic synthetic assessment of countries is also needed to determine their position against each other. In such cases, DEA may be successfully used. The study resulted in the identification of two clusters of countries with similar profiles of relative efficiency in the CE goals’ implementation. It was concluded that the position of a particular country in achieving the CE aims was strongly correlated its GDP per capita. Moreover, factor analysis showed that many CE indicators are strongly correlated with each other and may be aggregated into five meta-indicators (factors): Recycling rate of general waste, Waste production, Jobs and investments, Recycling rate of special waste, and Circular material use rate. In addition to simple rankings and indication of benchmarks, the article offers a novel concept of technology competitors which was used to group units competing for positions in the ranking. Full article

(This article belongs to the Special Issue New Insights into Circular Economy and Sustainable Development)

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19 pages, 3179 KiB

Open AccessArticle

Model Analysis of Eco-Innovation for National Decarbonisation Transition in Integrated European Energy System

by Viktor Koval, Oksana Borodina, Iryna Lomachynska, Piotr Olczak, Anzor Mumladze and Dominika Matuszewska

Energies 2022, 15(9), 3306; https://doi.org/10.3390/en15093306 - 1 May 2022

Cited by 18 | Viewed by 2242

Abstract

Consolidation with European social, economic and environmental programmes in the framework of Ukraine’s integration into the European energy space has become extremely important given the growing threats to energy security and should become the basis for greening regional and national innovation systems in the context of decarbonisation, the minimisation of carbon emissions and the transition to alternative energy sources. The comparison of the regions of the country by the level of enterprise innovation and the extrapolation of these results to the share of such enterprises in the total number of industrial entities in the regions helped identify their lack of correlation and emphasised the lack of stable dependence between industrial development and innovation activity. The methodology of the article includes a number of general scientific, special and interdisciplinary methods that allowed the screening of areas for the most favourable economic development, taking into account the synergistic component of regional development and achieving the research goal. The aim of this article is to analyse the innovative component of regional and national economic development for the implementation of decarbonisation and green energy transition in Ukraine, as well as substantiate the world’s leading imperatives and national directions for effective integration into relevant European programmes. An analysis of Ukraine’s rating status in several international indices of environmental efficiency and innovation activity in the regions showed the lack of correlation between regions of Ukraine, which actualises the search for the most effective drivers of economic development. At the same time, the consolidation of efforts of national stakeholders of innovative development in a country with relevant European institutions, particularly in the direction of greening regional economic systems, will ensure the development of innovative regions and industries, which will in turn be drivers of related territories and industries while ensuring a synergistic effect. Full article

(This article belongs to the Special Issue New Insights into Circular Economy and Sustainable Development)

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18 pages, 613 KiB

Open AccessArticle

Green Intellectual Capital as a Support for Corporate Environmental Development—Polish Company Experience

by Edyta Bombiak

Energies 2022, 15(9), 3004; https://doi.org/10.3390/en15093004 - 20 Apr 2022

Cited by 5 | Viewed by 2001

Abstract

Green intellectual capital (GIC) is a distinctive intangible asset that may assist organizations in pursuing sustainable development strategies. In Polish organizations, interest in this new concept is low. Analysis of the literature showed a lack of research regarding the implementation of GIC practices or their impacts on the sustainable development of organizations in Polish enterprises. In order to fill the detected research gap, the study covered 150 randomly selected Polish enterprises. The purpose of the research was to determine the impact of activities fostering GIC on the environmental development of companies in Poland and to identify major practices supporting GIC development. In addition, the author attempted to establish a correlation between the impact of individual practices oriented at GIC formation and their practical implementations in the analyzed enterprises. The first stage of the analysis focused on identification of activities leading to the accumulation of GIC implemented in Polish organizations. The second stage involved an assessment of the level of impact of actions contributing to GIC formation on the environmental development of the studied enterprises. During the third stage, the author investigated the relationship between the impact of individual practices oriented at GIC formation and their practical implementation in the analyzed organizations. The study demonstrated that actions supporting GIC formation have an uneven impact on corporate environmental development. Among the key factors identified by the author were environmental attitudes of employees in the working environment (such as paper and energy saving), environmental knowledge, and the implementation of innovative environmental projects. Furthermore, the author established a correlation between the impact assessments of activities leading to GIC accumulation and their practical implementations. The research demonstrated that activities assessed by respondents as more important are more often implemented in practice. The findings of the research may stimulate interest in GIC development and extend the scope of application of GIC-fostering practices over organizations operating in the energy sector. Full article

(This article belongs to the Special Issue New Insights into Circular Economy and Sustainable Development)

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26 pages, 5082 KiB

Open AccessArticle

Sharing Model in Circular Economy towards Rational Use in Sustainable Production

by Dzintra Atstaja, Viktor Koval, Janis Grasis, Iryna Kalina, Halyna Kryshtal and Inesa Mikhno

Energies 2022, 15(3), 939; https://doi.org/10.3390/en15030939 - 27 Jan 2022

Cited by 36 | Viewed by 4400

Abstract

Changing business models is a topical issue in a pandemic. Recent research has shown that the search for environmentally friendly and sustainable solutions in various sectors has become relevant. The article aims to promote cooperation and adaptation of good practices between countries. Comparing the country’s history and economic situation and economic development and traditions can be seen as a precondition for success. The article examines the introduction of sharing economy and the creation of environment-friendly trends establishing a circular economy by minimizing the population’s expenses, online business growth, and accessibility of Internet technologies. The article explores the difference between the linear economic model and the circular model by adopting sharing and the efficient joint use of materials to enhance and assess sustainable development. Based on a combination of theoretical and practical research, the article explores the dynamic system and development model of sharing a circular economy. The new concept of circular economy does not promote the overproduction of new goods but the rational use of already produced ones, which significantly reduces the amount of waste generated at all stages of the product life cycle. Population groups by different income groups for sharing services are analysed. An analysis of the price characteristics of popular sharing products was used from data from Internet portals. One concludes that due to the increase in Internet users, especially mobile apps, and social networks, C2C sharing has become quite popular over the past years. Other areas also show positive development indicators but have less demand, affecting supply. Based on an in-depth study of the economic situation in Ukraine, the authors have critically chosen an industry to set as an example with the actual business situation. Therefore, three packages were created: pessimistic, standard and optimistic ones with different characteristics of implementing circular economic projects. The chosen method allows rational management decisions for attracting financing and sustainable solutions. The company’s business scenarios analysed in the article will allow to choose a system based on circular economy principles successfully. Full article

(This article belongs to the Special Issue New Insights into Circular Economy and Sustainable Development)

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17 pages, 2828 KiB

Open AccessArticle

Measuring Green Marketing: Scale Development and Validation

by Neringa Vilkaite-Vaitone, Ilona Skackauskiene and Gonzalo Díaz-Meneses

Energies 2022, 15(3), 718; https://doi.org/10.3390/en15030718 - 19 Jan 2022

Cited by 25 | Viewed by 7561

Abstract

Academics and practitioners are paying increasing attention to green marketing as lesser damage to the environment and future generations become a priority in a current complex business environment. Despite the expanding studies in this field, there is still a lack of psychometrically sound scales to measure green marketing practices. To fill this gap, the research aimed to develop and evaluate a multifaceted green marketing scale. First, we draw on theoretical evidence to define and conceptualize the construct of green marketing. Then, we use a multistudy scale development process to create and validate the Green Marketing Scale (GMaS). Two groups of participants were used for the validation of the scale. Study 1 (n = 102), with the help of exploratory factor analysis (EFA), refined and reduced the items, proposed the factor structure. Study 2 (n = 155) established the validity of the construct and the reliability of the scale. The authors have tested the six-factor model against the four-factor models using confirmatory factor analysis (CFA) with a sample of marketing managers. The results of the CFA have indicated that the revised version of the four-factor model appears to be the most tenable solution, as it shows the best fit for the data. The resulting 14-item GMaS captures a variety of green marketing manifestations across organizational settings and involves the dimensions of Strategy, Internal Marketing, Product, and Marketing Communication. In general, the research confirms the validity and reliability of the GMaS scale and can be used to measure green marketing in organizational settings in the energy industry. Full article

(This article belongs to the Special Issue New Insights into Circular Economy and Sustainable Development)

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27 pages, 4768 KiB

Open AccessArticle

Sustainable Value Chain of Industrial Biocomposite Consumption: Influence of COVID-19 and Consumer Behavior

by Didzis Rutitis, Anete Smoca, Inga Uvarova, Janis Brizga, Dzintra Atstaja and Inese Mavlutova

Energies 2022, 15(2), 466; https://doi.org/10.3390/en15020466 - 10 Jan 2022

Cited by 16 | Viewed by 4896

Abstract

The COVID-19 pandemic has been one of the most unprecedented crises of recent decades with a global effect on society and the economy. It has triggered changes in the behavior and consumption patterns of both final consumer and industrial consumers. The consumption patterns of industrial consumers are also influenced by changes in consumer values, environmental regulations, and technological developments. One of the technological highlights of the last decade is biocomposite materials being increasingly used by the packaging industry. The pandemic has highlighted the problems and challenges of the development of biocomposites to adapt to new market conditions. This study aims to investigate the industrial consumption of biocomposite materials and the influence of the COVID-19 pandemic on the main stages of the value chain of sustainable industrial consumption of biocomposites. The research results reveal there is a growing interest in the use of biocomposites. Suppliers and processors of raw materials are being encouraged to optimize and adapt cleaner production processes in the sustainable transition pathway. The study highlights the positive impact of COVID-19 on the feedstock production, raw material processing, and packaging manufacturing stages of the value chain as well as the neutral impact on the product manufacturing stage and negative impact on the retail stage. The companies willing to move toward the sustainable industrial chain have to incorporate economic, environmental, social, stakeholder, volunteer, resilience, and long-term directions within their strategies. Full article

(This article belongs to the Special Issue New Insights into Circular Economy and Sustainable Development)

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24 pages, 65614 KiB

Open AccessArticle

Analysis of Selected Service Industries in Terms of the Use of Photovoltaics before and during the COVID-19 Pandemic

by Sylwester Kaczmarzewski, Dominika Matuszewska and Maciej Sołtysik

Energies 2022, 15(1), 188; https://doi.org/10.3390/en15010188 - 28 Dec 2021

Cited by 12 | Viewed by 1767

Abstract

Previous analyses of the PV market (and the impact of the pandemic on it) have focused on the market as a whole. The literature does not contain analyses of selected services sectors (e.g., catering, hotel services) in terms of the use of photovoltaics. There are no studies that would show in which segments the demand profile for electricity most closely matches the production from photovoltaic installations (not to mention the impact of the pandemic). The authors analyzed selected service sectors (catering and hotel) in terms of the use of photovoltaics before and during the COVID-19 pandemic. The paper proposes a comparative methodology for the use of photovoltaics for self-consumption, including statistical analyses and calculations of the self-consumption index for representatives of various selected services sectors. The highest value of the self-consumption ratio at the level of 52% was shown for cafes and restaurants (during the pandemic). Surprisingly, in the pandemic, the self-consumption rate increased for restaurants and cafes for the same size of installations (compared to pre-pandemic times). Full article

(This article belongs to the Special Issue New Insights into Circular Economy and Sustainable Development)

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17 pages, 3479 KiB

Open AccessFeature PaperArticle

The “My Electricity” Program as One of the Ways to Reduce CO₂ Emissions in Poland

by Piotr Olczak, Agnieszka Żelazna, Dominika Matuszewska and Małgorzata Olek

Energies 2021, 14(22), 7679; https://doi.org/10.3390/en14227679 - 16 Nov 2021

Cited by 30 | Viewed by 2988

Abstract

One way to reduce CO₂ emissions is to replace conventional energy sources with renewable ones. In order to encourage prosumers to invest in renewable energy, EU Member States are developing renewable energy subsidy programs. In Poland, in the years 2019–2020, the “My Electricity” program was implemented, co-financing was up to 50% of eligible costs (max PLN 5000, i.e., EUR 1111), and the total cost of the program was 251 million euro. During this period, around 400,000 prosumer installations were created in Poland, including over 220,000 prosumer PV Installations under the My Electricity program. The total power of the installation under the “My Electricity” program was 1.295 GWp with an average installation power of 5.72 kWp. It is estimated that the micro-installations will produce approx. 1.4 TWh of electricity annually. Depending on the replaced source of electricity (coal, gas, mix), in the next 30 years, it will help to avoid 26.2–42.7 million Mg of greenhouse gases calculated as carbon dioxide equivalents (CO_2eq). The coefficient of subsidy expenditure from the “My Electricity” program was 194 EUR/kWp, and in the next 30 years, it will be 6.52 EUR/MWh. The investment in PV will save EUR 1550 million, which would have to be incurred for the purchase of CO₂ emission permits. Full article

(This article belongs to the Special Issue New Insights into Circular Economy and Sustainable Development)

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Review

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20 pages, 1041 KiB

Open AccessReview

Green Marketing and Customers’ Purchasing Behavior: A Systematic Literature Review for Future Research Agenda

by Ilona Skackauskiene and Neringa Vilkaite-Vaitone

Energies 2023, 16(1), 456; https://doi.org/10.3390/en16010456 - 31 Dec 2022

Cited by 3 | Viewed by 7529

Abstract

With the rising concern for environmental issues, there is an ever-increasing demand for sustainable actions to minimize the damage to ecosystems. Seeking to meet such a demand, energy companies worldwide embrace green marketing solutions. This article aims to provide a comprehensive and systematic overview of green marketing and its impact on customers’ purchasing behavior to develop a research agenda that helps to identify promising areas for future research. We conducted a systematic literature review to fill in the lack of conceptual clarity on the relationship between green marketing solutions and customers’ purchasing behavior. After compiling a candidate pool of 2604 papers and applying a set of inclusion and exclusion criteria, the final sample comprised 166 articles published between 1995 and 2022. The results demonstrate that scholars frequently chose the energy sector to research green marketing’s impact on purchasing behavior. The review indicates that the theory of planned behavior with its progenitor theory of reasoned action seems to be highly featured. The literature emphasizes green marketing at the tactical level as impacting customer behavior measures at the purchase and post-purchase stages. Our study helps marketers to identify the best practices in the area to influence customers’ behavior effectively. Full article

(This article belongs to the Special Issue New Insights into Circular Economy and Sustainable Development)

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19 pages, 3471 KiB

Open AccessReview

Circular Economy and Sustainability-Oriented Innovation: Conceptual Framework and Energy Future Avenue

by Viktor Koval, I Wayan Edi Arsawan, Ni Putu Santi Suryantini, Serhii Kovbasenko, Nadiia Fisunenko and Tetiana Aloshyna

Energies 2023, 16(1), 243; https://doi.org/10.3390/en16010243 - 26 Dec 2022

Cited by 23 | Viewed by 4580

Abstract

A circular economy emerged as an alternative transition model, which is considered to be a solution to massive environmental degradation. The transition from a linear economy to a circular economy requires companies to be actively involved in more sustainable practices. For such a transition, companies must rethink, innovate on business models, and encourage sustainability-oriented innovation to deliver customer value, while simultaneously considering environmental and social aspects. On the other hand, the role of the circular economy in energy conservation and infrastructure has not been mapped out in the current literature. This systematic literature review seeks to map out the main interrelated topics of the circular economy and sustainability-oriented innovation, describing internal and external factors that need to be considered in the transition to a clean energy future. Key lines of research are identified, and suggestions for future research and for how to facilitate the movement towards a circular economy are provided. This study contributes to an enhancement of the literature by identifying priority areas regarding the circular economy and sustainability-oriented innovation to encourage future research that contributes to sustainability and environmental preservation. Full article

(This article belongs to the Special Issue New Insights into Circular Economy and Sustainable Development)

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18 pages, 833 KiB

Open AccessReview

Review of Possibilities for Evaluating the Performance of an Organization in the Aspect of Greenness

by Ilona Skačkauskienė and Juliana Smirnova

Energies 2022, 15(19), 6947; https://doi.org/10.3390/en15196947 - 22 Sep 2022

Cited by 2 | Viewed by 1622

Abstract

Due to the increasing relevance and importance of sustainable development pursuit, it can be assumed that organizations are striving to develop in a green direction. This is not only related to raising awareness of modern society but also to legal regulation and strategic documents for achieving the goals of sustainable development at the international level, especially affecting certain fields of activity such as energy or manufacturing. It is noticed that there is still a lack of definition in the scientific literature of what kind of organization is considered green. Therefore, it is appropriate to create a green organization benchmark against which organizations can assess their current level of greenness and identify areas for improvement. This research aimed to choose the most suitable approach for developing a green organization benchmark by examining the methods for evaluating an organization’s performance in terms of greenness according to defined attributes. Applying the methods of systematic and comparative analysis of scientific literature and strategic documents, content analysis, grouping, and synthesis, it was determined that the approach of resources of an organization can be considered the most suitable for creating a green organization benchmark. However, it is reasonable to supplement it with an evaluation of external environmental factors. Full article

(This article belongs to the Special Issue New Insights into Circular Economy and Sustainable Development)

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