Multilateral Development Banks Unveil Global Vision for Circular Finance at WCEF 2024

Multilateral Development Banks Unveil Global Vision for Circular Finance at WCEF 2024

(IN BRIEF) During the World Circular Economy Forum (WCEF) 2024 in Brussels, leading multilateral development banks (MDBs) presented their Circular Economy Working Group’s shared vision on the role of MDBs in supporting the circular economy. The session, titled “Shaping a global vision for circular finance,” highlighted the critical role of MDBs in promoting circular-economy approaches for sustainable and just development in the 21st century. MDBs pledged to strengthen internal capacity, explore methodologies for generating economic value through circular solutions, enhance resource efficiency considerations, and facilitate knowledge exchange with various stakeholders. Gianpiero Nacci, EBRD Director for Sustainable Business and Infrastructure, emphasized the EBRD’s longstanding commitment to promoting circular-economy projects and practices as part of its Green Economy Transition approach. The annual WCEF serves as a platform for showcasing leading circular-economy solutions and fostering collaboration among business leaders, policymakers, and experts worldwide.

(PRESS RELEASE) LONDON, 16-Apr-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