Sustainable Entrepreneurship in European Petrochemical Industry

In response to climate policies such as the European Green Deal and Paris Agreement, petrochemical companies are increasingly integrating environmental goals into business strategies. This chapter explores sustainable entrepreneurship in the European petrochemical industry, focusing on the transition from fossil fuels to biofuels. Using the triple bottom line framework, the study analyzes how sustainability adoption varies across regions with different economic conditions. Based on 5 years of sales data (2020–2024) from a multinational company operating in Central, Western, and Eastern Europe, the research investigates the relationship between gross domestic product (GDP) and the share of biobased components in diesel fuel. The results show that higher GDP regions, particularly in Western and Central Europe, report greater adoption of biofuels, while Eastern regions lag behind. Statistical analysis confirms significant regional differences in both GDP and biofuel use. The study also examines adoption by customer segment, finding that agriculture and transportation sectors show the highest biofuel integration, whereas wholesale customers—despite large sales volumes—lag in sustainability performance. These findings highlight the uneven progress in sustainable energy across Europe and emphasize the need for regionally tailored policy support to ensure inclusive and effective energy transition in the petrochemical sector.