Conference Paper/Proceeding/Abstract 87 views
The Role of Purposeful Ecosystems in Regenerative Economies: A Case Study of South West Wales
Kate Organ 
,
Fern Davies ,
Samantha Burvill ,
Beth Cummings
,
Fern Davies ,
Samantha Burvill ,
Beth Cummings
International Conference on Regeneration, Resilience, Health and Wellbeing. Aberyswyth.
Swansea University Authors:
Kate Organ , Fern Davies , Samantha Burvill , Beth Cummings
Abstract
The concept of regenerative economies has garnered significant attention in recent years as a response to environmental threats and social and economic inequity. There is widespread recognition that businesses have a crucial role to play in leveraging sustainable regeneration (Bowen et al., 2017), y...
| Published in: | International Conference on Regeneration, Resilience, Health and Wellbeing. Aberyswyth. |
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| Published: |
Aberyswyth University
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| URI: | https://cronfa.swan.ac.uk/Record/cronfa67693 |
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| Abstract: |
The concept of regenerative economies has garnered significant attention in recent years as a response to environmental threats and social and economic inequity. There is widespread recognition that businesses have a crucial role to play in leveraging sustainable regeneration (Bowen et al., 2017), yet alone they are ill-equipped to address such challenges (Stubbs et al., 2022), requiring a broader systems-level shift and mobilisation of multi-stakeholder networks. This research paper explores the role of purposeful ecosystems (Burvill et al., 2022) through the lens of regenerative economies, aiming to highlight their significance in fostering sustainability, resilience, and inclusive growth.Whilst the discourse on environmental, social and governance (ESG) factors is well documented to drive long-term growth, recently there has been a shift to consider a regenerative approach to business. This approach acknowledges the key principles of sustainability but transcends those principles (WEF, 2023) and aims to consider the broader aspect of “well-being” (Gibbons, 2020). Literature in this area is starting to explore the concept of regenerative sustainability (RS) which focuses on “whole system health and well-being” and continual improvement (Gibbons, 2020). Whilst the literature lacks a clear singular definition of regenerative economy, it is often aligned to the literature on circular economy (Morseletto 2020). The research in these areas acknowledge its growing significance and the need for a paradigm shift in our approach to well-being and regenerative business and the impact on socio-economic success (Walls & Vogel, 2023). According to the WEF (2023) “the goal of a regenerative business is not merely to limit the impact that it has on the planet and society but to contribute positively to the economy and the world around it – achieving a net positive impact as a result”.This paper examines how purposeful ecosystems serve as essential components in the regeneration of economies at a local level. This is conceptualised as an environment whereby actors and their networks promote favourable and supportive infrastructures to enable purpose-driven activities (Hervieux & Voltan, 2018; Stubbs et al., 2022). This work considers the micro interventions of ecosystem actors and the combined impact of these interventions in influencing regional development. The paper aims to inform future research, policy-making, and practical initiatives aimed at harnessing the potential of purposeful ecosystems for building more resilient, equitable, and sustainable local economies.This research undertook an exploratory case study approach (Denzin & Lincoln, 2011), analysing the work undertaken at a micro and local level within South West Wales that contributes to the development of a regenerative economy. One focus group was undertaken with five participantsdrawn from the local ecosystem. Two in depth interviews were also undertaken with a B-Corp business owner and a change leader within the well-being of future generations act commissioners office. The latter was undertaken to position the research within the context of the Well Being of Future Generations Act (2015) legislation that is evident within Wales. |
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| College: |
Faculty of Humanities and Social Sciences |