A report by the Informal Commission Expert Group “Support to Circular Economy Financing” (E03517)
This report has greatly benefited from the comments and contributions by Arnold Verbeek, Christian Schempp, Gianpiero Nacci, Philip Marynissen, Frido Kraanen, Rebeka Kovacic and Laura Busato.
The transition to a circular economy is at an early stage in the EU.
Regulations, markets and investment tools, including financial risk assessment, are adapted to linear models. Generally speaking, externalities linked to linear business models are not taken into account. This poses a problem for emerging circular models, which have to contend with the challenge of accessing finance, as the financial sector sees circular projects as highly risky.
To improve the conditions for financing CE projects, the Expert Group on Circular Economy Financing identified the main areas where incentives are needed, addressing recommendations to policy makers, financial institutions and project promoters.
The Loop Company has discovered the opportunities offered by the circular economy and launched three initiatives - Book in Loop, BabyLoop and UniLoop - that bring circularity to everyday life.
The Circular Consumption Charter is the result of a partnership between Eni and 18 Italian consumer associations. It was launched on 17 June at a conference involving consumer associations, representatives of public institutions, the scientific world and the certification sector. EESC Vice-President Cillian Lohan participated in the event.
Schijvens has been producing corporate uniforms for more than 150 years now. In 2017, they began collecting customers' old clothing, shredding it and mixing the textile fibres with shredded PET-polyester ones from sportswear, fishing nets and bottles. This led to 100% recycled yarn, which is used to make new fabrics and ultimately new uniforms.
Groningen Seaports is the economic operator, developer and port authority for the port of Delfzijl, Eemshaven and adjoining industrial sites. Groningen Seaports is at the forefront of the circular economy and recently opened Circulands, a circular-oriented industrial park.
Interseroh provides recycling solutions for plastic packaging. For instance, it has developed a pooling system of reusable plastic boxes for fruit and vegetables sold at Aldi Süd, a German supermarket network.
Based in Barcelona, Rezero is a non-profit organisation that, in collaboration with social and economic actors in Spain, aims to push the model of production and consumption towards zero waste.
Rezero looks for new solutions to extend the life of products and materials by facilitating reuse and eliminate the generation of household waste.
It has a section for information, analysis and debate, where initiatives aiming to achieve a zero-waste society are tested. There is also a section on zero-waste projects. Rezero offers advice and support to companies aiming to reduce their footprint.
Red Orka is a circular babywear brand that aims to do better for people and the planet. Red Orka's product is delivered to people's homes on the basis of a subscription for a fixed amount each month. The baby rompers are made from 100% organic cotton and produced in the most sustainable way possible.
LENA is the first online and offline fashion library in the Netherlands. It has a system for borrowing clothes and provides an extended wardrobe for every occasion. Their aim is to speed up the fashion industry's transition towards a circular system.
