EIB’s leadership in the Circular Economy recognized at World Economic Forum meeting in Davos
22 January 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!”
The EIB Group has stepped up its level of precaution at its headquarters in Luxembourg and in its external offices. All staff will telework as of 16 March. A small number of staff whose physical presence on EIB premises is indispensable will continue to be present on the EIB campus. The decision aims to protect the health of employees and ensure the continuity of the EIB Group’s activity.
On Wednesday the EIB identified its first case of one staff member who tested positive for corona virus.
As a precautionary measure, the EIB decided not to hold the meeting of its Board of Directors planned for Thursday 12 March in person. Decisions on the Board’s agenda will be taken by written procedure. The Bank has put in place measures to prevent disruption to its governance or operation approval schedule.
On Monday 2 March, the former President of the European Council, Donald Tusk, visited the EIB in Luxembourg on a joint invitation from the Bank, the European Stability Mechanism (ESM) and the Court of Auditors.