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    The EIB Circular Economy Guide: Supporting the circular transition
    The EIB Circular Economy Guide: Supporting the circular transition
    The EIB Circular Economy Guide: Supporting the circular transition
    Ebook79 pages40 minutes

    The EIB Circular Economy Guide: Supporting the circular transition

    By European Investment Bank

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    About this ebook

    The EIB Circular Economy Guide aims to promote a common understanding of circular economy, and raise awareness about and promote circular solutions. The Guide provides information about EIB's lending and advisory activities in this field, and communicates our vision of how the EIB can further support the transition to a circular economy. The Guide is a living document that will be updated in response to our evolving understanding of circular economy needs, opportunities and risks, and growing experience with the appraisal and financing of circular economy projects.
    LanguageEnglish
    PublisherEuropean Investment Bank
    Release dateMay 25, 2020
    ISBN9789286146718
    The EIB Circular Economy Guide: Supporting the circular transition

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      Book preview

      The EIB Circular Economy Guide - European Investment Bank

      About the European Investment Bank

      The European Investment Bank is the world’s biggest multilateral lender. The only bank owned by and representing the interests of the EU countries, the EIB finances Europe’s economic growth. Over six decades the Bank has backed start-ups like Skype and massive schemes like the Øresund Bridge linking Sweden and Denmark. Headquartered in Luxembourg, the EIB Group includes the European Investment Fund, a specialist financer of small and medium-sized enterprises.

      The EIB Circular Economy Guide

      Supporting the circular transition

      May 2020

      Contents

      1. Introduction

      2. The circular economy

      3. EU policy framework

      4. EIB lending to the circular economy

      5. EIB circular economy financing and advisory

      6. Project eligibility and screening

      Annex 1 Circular economy reference websites and documents

      Annex 2 Circular economy strategies

      Annex 3 EU policies on the circular economy and bioeconomy

      Annex 4 Circular economy and climate change mitigation

      Annex 5 Typical circular economy investments and generic guidance

      For more information, visit our website on www.eib.org/circular-economy or contact us at [email protected].

      Abbreviations

      3D three-dimensional

      CDP Cassa Depositi e Prestiti

      CO2eq carbon dioxide equivalent

      DSCR debt-service coverage ratio

      EBIT earnings before interest and taxes

      EC European Commission

      EFSI European Fund for Strategic Investments

      ECBF European Circular Bioeconomy Fund

      EIB European Investment Bank

      EU European Union

      EUR euro

      GDP gross domestic product

      Gt giga-tonne

      ICT information and communication technology

      Mt mega-tonne

      RDI research, development and innovation

      SME small and medium-sized enterprises

      UNEP United Nations Environment Programme

      1. Introduction

      The circular economy concept is gaining attention as the consumption and use of resources increases to serve a fast-growing population with rising standards of living. Circularity refers to the circular flow and efficient use and reuse of resources, materials and products. This new economic model represents sustainable green growth, moving from a consumption and disposal-based linear model to a system that extends the life of products and materials and minimises waste. The circular model has many environmental, climate, social and economic benefits.

      The circular economy is backed strongly by the European Commission and other EU institutions, as well as by a growing number of cities and countries across the European Union. It is also attracting increasing attention from the business community and public and private investors. The circular economy goes beyond resource efficiency and recycling. It provides the framework to develop new business models aimed at increasing the value, use and life of materials, products and assets and designing out waste from production and consumption.

      In light of the European Commission’s new Circular Economy Action Plan[1], the EIB, as the EU bank, is supporting the transition to a circular economy, particularly in the European Union, but also in other parts of the world. The EIB has a long track record of lending to projects focusing on recycling and the recovery of waste and by-products in various sectors. We aim to increase lending to innovative circular economy projects aimed at systematically designing out waste, extending the life of assets and closing material loops. The EIB also offers circular economy advisory services, and is active in networking, sharing of best practices, connecting stakeholders and facilitating access to finance for circular economy projects. In light of this, this guide aims to:

      a. promote a common understanding of the circular economy as

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