Circular Economy Framework Applied to Monsanto’s Business Operations Case Study
Monsanto wanted to improve its sustainability strategy to reduce its impact on the environment while maximizing opportunities for action. The company wanted to learn more about the Circular Economy framework, as an alternative to the traditional linear economy model. Monsanto engaged B. Accountability to:
- Obtain an initial understanding of the Circular Economy Model,
- Gain an understanding of the kind of sectors and organizations that are utilizing the Circular Economy, and
- Receive an initial assessment of how Circular Economy principles could apply to Monsanto and how they could benefit the company.
“In an effort to improve our sustainability strategy and to reduce Monsanto’s impact on the environment, we wanted to learn more about Circular Economy framework as an alternative to a traditional linear economy. We chose to engage with B.Accountability because of their comprehensive knowledge of the latest frameworks in sustainability and expertise in the area. The B. Accountability team diligently assessed the Circular Economy framework in terms of its benefits to the environment, business value, limitations, and usefulness to Monsanto. Not only was the team’s experience evident, but so was their passion and dedication to communicating ideas and achieving results. Monsanto is eager to work with B. Accountability as we progress on our sustainability journey.”
Tami Craig SchillingGlobal Business Sustainability Lead, Monsanto
The process was undertaken by communicating a high-level understanding of the Circular Economy framework and how it relates to Monsanto based on its business operations and sustainability priorities. The B. Accountability team assessed the Circular Economy framework in terms of its benefits to the environment, its value to business, and the framework’s strengths and limitations. B. Accountability also analyzed Monsanto’s industry peers and other leading businesses in a multitude of sectors who have used the Circular Economy framework, to develop a best-practice solution for Monsanto.
B. Accountability made recommendations about how Monsanto can embed the principles of the Circular Economy into its value chain to reduce its inbound logistical costs, raw material costs, distribution and other outbound logistical costs. Furthermore, B. Accountability highlighted how certain aspects of Circular Economy, such as regenerate and loop, would be particularly applicable to Monsanto.
B.Accountability also helped to identify some key indicators which can help Monsanto think about how to approach the Circular Economy for their business.
Certain cost-saving recommendations that align with its sustainability model were also provided, including how Monsanto can re-envision its packaging into biodegradable materials, or chemically engineer the packaging to have fertilization benefits when decomposed; and the ways in which Monsanto can leverage its existing relationships with suppliers and customers to turn it into business value.