EIB’s leadership in the Circular Economy recognized at World Economic Forum meeting in Davos
- Jan 22, 2019
The EIB has been selected as the runner-up in the “Investor” category of The Circulars 2019, the world’s premier circular economy award program organized by the World Economic Forum and the Forum of Young Global Leaders. The award ceremony, which was held on 21 January in Davos, recognized the EIB’s strong contribution to the circular economy which revolves around three mutually reinforcing clusters: finance, advisory support and knowledge sharing.
In the last 5 years, the EIB has provided EUR 2.1 billion to co-finance more than 100 circular projects in a variety of sectors and plans to do more in the future. The Bank also raises awareness about circular solutions among financiers and stakeholders: as such it has recently published a Circular Economy Guide to promote a common understanding of circular economy projects.
Speaking at The Circulars Award ceremony, Vice-President Alex Stubb said: “We thank the organisers for this recognition. The shift to a circular economy is a ‘win-win-win’. A win for the economy because it is expected to stimulate growth and create up to 2 million new jobs by 2030; a win for the environment, because it will reduce our materials and carbon footprints and, finally a win for businesses for which it enables cost savings and new business opportunities.”
Top prize in the investor category went to Impax Asset Management in which the EIB has invested 115 million euro of equity for renewable energy and circular economy projects.
The EIB’s head of innovation finance advisory Shiva Dustdar said she was delighted to see ImpaxAM take the prize: “When the EIB invests indirectly we can sometimes have even more of a catalytic impact. At the end of the day CE is about finding win-win solutions. And this prize is a great example for just that!”
Brochure: The EIB in the Circular Economy
Study: Access-to-finance conditions for projects supporting circular economy
Blog: Squaring the Circle: What square financiers and circular economy businesses should understand about each other