Stakeholder engagement to address agribusiness concerns and opportunities: the circular carbon bioeconomy example

Abstract

Effective stakeholder engagement in decisions about complex systems involving sustainable agribusiness requires substantial time and resources by both the managers involved in a supply chain and their stakeholders. Therefore, it is important to understand how to design and implement business strategies that integrate stakeholder perspectives as the project develops. The objective of this article is to explore how actors interested in sustainable and resilient agribusinesses can effectively involve stakeholders in supporting strategies to advance a circular carbon bioeconomy. We consider an approach for stakeholder engagement based on six principles: diversity, listening, value, trust, accountability, and flexibility/ adaptability. Practical means for agribusinesses to apply the six principles to the circular carbon bioeconomy are discussed along with challenges encountered when applying them. Managerial choices and engagement designs and practices are specific to each type of agribusiness. Employing this approach can help project developers prioritize, prepare, and sustain stakeholder engagement, and build local capacities for continual improvement and informed decisions aligned with more sustainable business strategies.