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The Role of Purposeful Ecosystems in Regenerative Economies: A Case Study of South West Wales

Kate Organ Orcid Logo, Fern Davies Orcid Logo, Samantha Burvill Orcid Logo, Beth Cummings Orcid Logo

International Conference on Regeneration, Resilience, Health and Wellbeing. Aberyswyth.

Swansea University Authors: Kate Organ Orcid Logo, Fern Davies Orcid Logo, Samantha Burvill Orcid Logo, Beth Cummings Orcid Logo

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...

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Published in: International Conference on Regeneration, Resilience, Health and Wellbeing. Aberyswyth.
Published: Aberyswyth University
URI: https://cronfa.swan.ac.uk/Record/cronfa67693
first_indexed 2024-09-18T11:12:38Z
last_indexed 2024-11-25T14:20:39Z
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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 &#x201C;well-being&#x201D; (Gibbons, 2020). Literature in this area is starting to explore the concept of regenerative sustainability (RS) which focuses on &#x201C;whole system health and well-being&#x201D; 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 &amp; Vogel, 2023). According to the WEF (2023) &#x201C;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 &#x2013; achieving a net positive impact as a result&#x201D;.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 &amp; 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 &amp; 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. 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spelling 2024-10-14T13:56:35.0186967 v2 67693 2024-09-16 The Role of Purposeful Ecosystems in Regenerative Economies: A Case Study of South West Wales d6406a28a60bc77b8ecf7e0df7f0cfc3 0000-0003-1731-6119 Kate Organ Kate Organ true false b8056080f1c221ea73d1d9d876f4c23b 0000-0002-9681-912X Fern Davies Fern Davies true false bedfd86256ce4984ab246a3228bb1da2 0000-0003-4893-3371 Samantha Burvill Samantha Burvill true false 6e20933c8d9d5e7db1753c71eaca649c 0000-0002-0472-5936 Beth Cummings Beth Cummings true false 2024-09-16 CBAE 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. Conference Paper/Proceeding/Abstract International Conference on Regeneration, Resilience, Health and Wellbeing. Aberyswyth. Aberyswyth University 0 0 0 0001-01-01 COLLEGE NANME Management School COLLEGE CODE CBAE Swansea University Not Required 2024-10-14T13:56:35.0186967 2024-09-16T09:32:20.4535372 Faculty of Humanities and Social Sciences School of Management - Marketing Kate Organ 0000-0003-1731-6119 1 Fern Davies 0000-0002-9681-912X 2 Samantha Burvill 0000-0003-4893-3371 3 Beth Cummings 0000-0002-0472-5936 4
title The Role of Purposeful Ecosystems in Regenerative Economies: A Case Study of South West Wales
spellingShingle The Role of Purposeful Ecosystems in Regenerative Economies: A Case Study of South West Wales
Kate Organ
Fern Davies
Samantha Burvill
Beth Cummings
title_short The Role of Purposeful Ecosystems in Regenerative Economies: A Case Study of South West Wales
title_full The Role of Purposeful Ecosystems in Regenerative Economies: A Case Study of South West Wales
title_fullStr The Role of Purposeful Ecosystems in Regenerative Economies: A Case Study of South West Wales
title_full_unstemmed The Role of Purposeful Ecosystems in Regenerative Economies: A Case Study of South West Wales
title_sort The Role of Purposeful Ecosystems in Regenerative Economies: A Case Study of South West Wales
author_id_str_mv d6406a28a60bc77b8ecf7e0df7f0cfc3
b8056080f1c221ea73d1d9d876f4c23b
bedfd86256ce4984ab246a3228bb1da2
6e20933c8d9d5e7db1753c71eaca649c
author_id_fullname_str_mv d6406a28a60bc77b8ecf7e0df7f0cfc3_***_Kate Organ
b8056080f1c221ea73d1d9d876f4c23b_***_Fern Davies
bedfd86256ce4984ab246a3228bb1da2_***_Samantha Burvill
6e20933c8d9d5e7db1753c71eaca649c_***_Beth Cummings
author Kate Organ
Fern Davies
Samantha Burvill
Beth Cummings
author2 Kate Organ
Fern Davies
Samantha Burvill
Beth Cummings
format Conference Paper/Proceeding/Abstract
container_title International Conference on Regeneration, Resilience, Health and Wellbeing. Aberyswyth.
institution Swansea University
college_str Faculty of Humanities and Social Sciences
hierarchytype
hierarchy_top_id facultyofhumanitiesandsocialsciences
hierarchy_top_title Faculty of Humanities and Social Sciences
hierarchy_parent_id facultyofhumanitiesandsocialsciences
hierarchy_parent_title Faculty of Humanities and Social Sciences
department_str School of Management - Marketing{{{_:::_}}}Faculty of Humanities and Social Sciences{{{_:::_}}}School of Management - Marketing
document_store_str 0
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description 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.
published_date 0001-01-01T20:34:25Z
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