To reach sustainability goals at COP27, we must prioritise — and finance — circular projects

‍Beyond tunnel vision on net-zero and towards a circular economy

The current economy takes materials from the Earth and makes materials and products from them that are largely discarded as waste. This process is linear. A circular economy significantly improves the efficiency of how we use materials, and aims to replace virgin materials with secondary materials recovered from waste streams. The formation of the Sustainable Development Goals (SDGs) in 2015, upon the signing of the Paris Agreement, recognised the circular economy as an essential approach to addressing the root causes of multiple cross-cutting sustainability challenges. The agreement states that extraction-led growth has been detrimental to the environment and that fundamental changes in resource use are imperative to keeping global temperature rise within 1.5-degrees.‍

Four ways IFIs can support the circular transition

Circle Economy organised the IFI circularity exchange network to identify obstacles to financing circularity in low- and middle-income countries today, and then to consider the changes that need to be made to address them. The result of this work was a high-level roadmap that proposes a number of goals for IFIs to reach by 2030, structured across four overarching objectives:

  1. Improve assessment methods for circular economy investments so that high-impact circular projects can be identified and compared effectively and at scale.
  2. Build internal capacity for the circular transition so that it is embedded in operations to achieve both economic success for countries and partners, and as a systemic approach to meeting environmental objectives.
  3. Develop mechanisms to de-risk and improve funding for the circular economy that leverage public-private collaboration.

The COP for action: join our event to learn more

According to COP’s presidency vision, the conference must focus on moving from negotiation to implementation: it’s time to formulate a ‘response with an aim to create a resilient planet’. Finance must be a part of this. Circle Economy’s Circular Finance Roadmap provides IFIs with the actionable steps toward creating a more resilient planet for all. You can learn more at the Launch of the Circular Finance Roadmap for International Financial Institutions at COP27, Sharm-el-Sheikh, Egypt, on the 17th of November in the EIB & Benelux Pavilion from 17.30 to 19.00 CET.

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Circle Economy

Circle Economy

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We empower businesses, cities and nations with practical and scalable solutions to put the circular economy into action.