New finance platform to support circular economy

The European Commission and the European Investment Bank (EIB) have established a platform to support the circular economy. The Circular Economy Finance Support Platform aims to bring investors and innovators together and keep up momentum in the transition to […]

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By Jonny Bairstow

The European Commission and the European Investment Bank (EIB) have established a platform to support the circular economy.

The Circular Economy Finance Support Platform aims to bring investors and innovators together and keep up momentum in the transition to a circular economy in Europe.

The Commission the steps outlined in 2015’s Circular Economy Package need to continue to be consistently delivered and adopted by Member States and their citizens – the new platform will help ensure this happens.

It says many key actions have already been undertaken in areas such as food waste, eco-design, organic fertilisers, guarantees for consumer goods and innovation and investments.

The Commission adds circular economy principles have also been successfully integrated in industrial best practices, green public procurement, the use of cohesion policy funds and through new initiatives in the construction and water sectors.

It is calling on the European Parliament and Council to progress with the adoption of its proposals on waste, with long-term targets to reduce landfilling and increase recycling and reuse.

Vice-President of the European Commission, Jyrki Katainen, said: “I am pleased that we can again work with the EIB to match investors with innovators.

“This new Platform is an excellent tool to raise awareness of the circular economy projects’ immense business potential and consequently, draw in more funding for their financing. The Circular Economy is an important element to modernise the European economy and we are on track to deliver this sustainable change.”