Multilateral Development Banks Unveil Circular Economy Vision at WCEF 2024

Multilateral Development Banks Unveil Circular Economy Vision at WCEF 2024

(IN BRIEF) During the World Circular Economy Forum (WCEF) 2024 in Brussels, leading multilateral development banks (MDBs), including the European Bank for Reconstruction and Development (EBRD), presented their shared vision on the role of MDBs in supporting the circular economy. Emphasizing the importance of circularity for sustainable development, MDB directors outlined key strategies to strengthen internal capacity, explore circular solutions’ economic value, enhance resource efficiency, and facilitate knowledge exchange with various stakeholders. Gianpiero Nacci, EBRD Director for Sustainable Business and Infrastructure, highlighted the EBRD’s long-standing commitment to promoting circular-economy projects, underscoring its significance for the low-carbon transition and environmental sustainability. With global leaders convening at WCEF 2024, the forum serves as a platform to showcase innovative circular-economy solutions and advance collaborative efforts towards achieving the United Nations’ Sustainable Development Goals.

(PRESS RELEASE) LONDON, 1-May-2024 — /EuropaWire/ — During the World Circular Economy Forum (WCEF) 2024 in Brussels, leading multilateral development banks (MDBs), including the European Bank for Reconstruction and Development (EBRD), presented their Circular Economy Working Group’s shared vision on the role of MDBs in supporting the circular economy.

The shared vision was unveiled at a session titled “Shaping a global vision for circular finance”, which saw MDB directors emphasise the critical role MDBs play in facilitating the uptake of circular-economy approaches. The MDBs recognised that circularity is important to achieving sustainable and just development in the 21st century.

Working together for more circularity, MDBs will continue to:

• strengthen internal capacity in order to continue our demand-based support for circular-economy approaches, both within our lending and advisory activities
• explore methodologies to demonstrate how circular solutions can generate economic value, while fostering just and inclusive sustainable development
• enhance resource efficiency considerations within our operations across sectors
• facilitate the exchange of knowledge with the private sector, civil society, and local, regional, and national authorities.

Gianpiero Nacci, EBRD Director for Sustainable Business and Infrastructure, said: “At the EBRD, we have been promoting circular-economy projects and practices for over a decade. The circular economy is a key component of our Green Economy Transition approach and is critical to the low-carbon transition. It also has significant nature-related and environmental co-benefits.”

The annual WCEF presents the world’s leading circular-economy solutions, with business leaders, policymakers and experts participating from around the world. Circular-economy approaches can help businesses seize new opportunities, gain competitive advantages and contribute to the achievement of the United Nations’ Sustainable Development Goals.

WCEF 2024 is organised by Sitra, the Finnish Innovation Fund, and produced together with Circle Economy Foundation (programme partner) and the International Resource Panel (science partner), in close collaboration with international partner organisations.

For further information on the WCEF, please reach out to Marvin Nusseck (marvin@circle-economy.com).

Media Contact:

Tel: +44 207 338 7805
Email: Group-PressUnit@ebrd.com

SOURCE: EBRD