Developing a Sustainable Business Model in the Bioeconomy: A Case Study of an Amazon Rainforest Enterprise

Abstract

The importance of incorporating sustainability into business models is well recognized, particularly in the bioeconomy industry, where enterprises rely on natural resources as role material. This study aims to analyze how a bioeconomy (BE) enterprise operating in the Amazon rainforest has integrated sustainability into its business model. A case study was conducted with Latin America's largest activated carbon enterprise, a B Corp (Benefit Corporation) certified by B Lab and aligned with the Sustainable Development Goals (SDGs). Data were collected from various stakeholders in the babassu coconut (raw material) supply chain. The findings reveal that incorporating sustainability into the business model required long-term actions (approximately 30 years) and was influenced by internal and external inductors. This study contributes to the literature by proposing a sustainable business model framework, detailing the implementation of each business model element. Furthermore, the environmental and social outcomes of the SBM are presented. Managerial implications are provided to guide enterprises in integrating sustainability into their business model.