Corporate Environmental Responsibility within the Circular Economy Context: Opportunities for Development and Sustainability

Abstract

Environmental responsibility, as one of the constructs of the comprehensive concept of corporate social responsibility, stands out with its own identity and has many similarities with the circular economy idea. The aim of the study is to demonstrate how the results from the environmentally responsible practices implemented in accordance with circular economy principles open up opportunities for development and sustainability. This paper describes the continuous improvement of the environmental responsibility of a leading mining company in Bulgaria – Dundee Precious Metals Chelopech EAD. The study is based on the case study method. The scientific analytical and comparative methods employed are based on environmental performance indicators for the 2011 – 2017 period. The results show that by observing circular economy principles and implementing environmentally responsible practices, the company has enhanced the efficiency of resources used in ore mining and processing (water, fuel, electricity, cement) and increased the degree of water and waste reuse (wasterock and tailings). This in turn has led to improvement of economic and financial results. The symbiosis between corporate environmental responsibility and circular economy creates additional opportunities for development and sustainability.