The Micro-Processes of Transitioning to a Circular Economy Through Capital Allocation: A Case of the Investment Field
通过对31家资产管理公司的37次访谈，研究了金融利益相关者如何理解并形成围绕循环经济的投资实践，识别出降低投资风险和不确定性、促进循环经济作为投资类别发展的关键认知过程。
Financial stakeholders play a key role in facilitating the initiation and growth of new circular business models, as well as supporting substantial improvements in existing linear incumbent firms. To empirically investigate how financial stakeholders make sense and form investment practices around the circular economy (CE) as an emerging, novel category in the financial industry, we conducted 37 interviews across 31 asset management firms, using the sensemaking lens. We identify the key characteristics of asset managers’ (AMs) sensemaking processes that facilitate reducing uncertainty and ambiguity around CE investment risk and return, thus fostering investment practices that increase the CE’s viability as an investment category and facilitate a transition towards a CE. We provide recommendations for interventions that can support AMs’ sensemaking around the CE.