The aim of this article is to explore the role of diversity and inclusion in the workplace, as well as the compliance with international standards and guidelines in the adoption of circular economy strategies.
A conceptual model linking diversity and inclusion in the workspace, compliance with international standards related to social and environmental sustainability, and board gender diversity is constructed. These elements are theoretically defined as determinant factors of circular economy adoption. This model is tested using an empirical analysis of the companies included in the STOXX Europe 600 from 2017 to 2022. Tobit regression analysis was used to test the hypotheses.
The analysis highlights the positive role of a more diverse and inclusive workforce and compliance with voluntary guidelines related to human rights, social and environmental issues, on the dependent variable of the model, namely circular economy strategies. On the other hand, gender diversity does not seem to be a decisive factor in promoting the adoption of a circular economy model.
The results of this study expand the existing knowledge on the link between the social and environmental dimensions of sustainability by offering a wider perspective about the internal and external determinants of circular economy strategies adoption.
