Financing Innovation and Circular
Economy
L. Goovaerts, C. Schempp, L. Busato, A. Smits, L. Žutelija
and R. Piechocki
Abstract In the seminar on “Financing Innovation and the Circular Economy
(CE)”, organized by the European Investment Bank (EIB) in the context of the Life
Cycle Management Conference 2017, experts of the EIB and EIB partner institutions (European Commission, Rabobank) spoke about the specific challenges
involved in the transition to a CE and the role played by their institutions in
accelerating this transition by means of appropriate funding, financing and advisory
instruments. In short presentations, the speakers first explained the broader role of
the EIB and the European Commission (EC) in supporting the transition to CE, as
well as the general types of CE projects and the specific questions that project
promoters can expect in project appraisal. EC, EIB and Rabobank representatives
also presented the concrete support and products offered to innovative circular
economy project promoters.
1 Introduction
In view of the world’s limited resources and the predicted demographic developments, the currently prevailing linear economic model appears to be unsustainable
from both economic and environmental points of view. The answer lies in transition
to the CE business model, which requires nothing less than an economic paradigm
shift and a radical change in the mind-set of policy-makers, businesses, consumers
and financiers towards more life-cycle thinking. CE, as defined by the EIB and the
EC, “attempts to encompass all economic systems where the resources used for a
product or a service are maximally reduced and/or recycled, while either mainL. Goovaerts Á C. Schempp (&) Á L. Busato Á A. Smits
European Investment Bank, Luxembourg City, Luxembourg
e-mail: c.schempp@eib.org
L. Žutelija
European Commission, Brussels, Belgium
R. Piechocki
Rabobank, Utrecht, The Netherlands
© The Author(s) 2018
E. Benetto et al. (eds.), Designing Sustainable Technologies,
Products and Policies, https://doi.org/10.1007/978-3-319-66981-6_47
427
Economy
L. Goovaerts, C. Schempp, L. Busato, A. Smits, L. Žutelija
and R. Piechocki
Abstract In the seminar on “Financing Innovation and the Circular Economy
(CE)”, organized by the European Investment Bank (EIB) in the context of the Life
Cycle Management Conference 2017, experts of the EIB and EIB partner institutions (European Commission, Rabobank) spoke about the specific challenges
involved in the transition to a CE and the role played by their institutions in
accelerating this transition by means of appropriate funding, financing and advisory
instruments. In short presentations, the speakers first explained the broader role of
the EIB and the European Commission (EC) in supporting the transition to CE, as
well as the general types of CE projects and the specific questions that project
promoters can expect in project appraisal. EC, EIB and Rabobank representatives
also presented the concrete support and products offered to innovative circular
economy project promoters.
1 Introduction
In view of the world’s limited resources and the predicted demographic developments, the currently prevailing linear economic model appears to be unsustainable
from both economic and environmental points of view. The answer lies in transition
to the CE business model, which requires nothing less than an economic paradigm
shift and a radical change in the mind-set of policy-makers, businesses, consumers
and financiers towards more life-cycle thinking. CE, as defined by the EIB and the
EC, “attempts to encompass all economic systems where the resources used for a
product or a service are maximally reduced and/or recycled, while either mainL. Goovaerts Á C. Schempp (&) Á L. Busato Á A. Smits
European Investment Bank, Luxembourg City, Luxembourg
e-mail: c.schempp@eib.org
L. Žutelija
European Commission, Brussels, Belgium
R. Piechocki
Rabobank, Utrecht, The Netherlands
© The Author(s) 2018
E. Benetto et al. (eds.), Designing Sustainable Technologies,
Products and Policies, https://doi.org/10.1007/978-3-319-66981-6_47
427