- STEAM Team
Financing the Transition to a Circular Economy
To transition to a circular economy, financial mechanism and instrumentation are critical.
moderated by Susann Roth (Advisor & Chief of Knowledge Advisory Services Center, ADB),
this session focuses on how public and private sectors could accelerate the CE transition through Financing scalable solutions.
Ernesto Sanchez-Triana, the Global Lead of Pollution Management and Circular Economy, the World Bank Group, presented his insights and value chain approach to finance the transition to a circular economy. He emphasized the importance of Strengthening the regulatory framework, financing private sector investment, and financing government intervention. Detailed of his presentation has been published in a textbook, "An Introduction to Circular Economy" by Springer Nature (Dec. 2020): Economic Instruments and Financial Mechanisms for the Adoption of a Circular Economy (https://link.springer.com/chapter/10.1007/978-981-15-8510-4_23).
Source: Enrique, Sanchez-Triana and Guerra (2021)
Allison Eun Joo YI, Senior Environmental Specialist, Environment, Natural Resources & Blue Economy Global Practice (ENB) of the World Bank, shared the Green Growth financing practices and Building Back Greener (BBG), an integrated platform towards sustainability and South Korea's Green Recovery success since 2008.
Source: Allison Eun Joo YI (World Bank) showing the outcome of green growth stimulus on GDP.
From the private sector, Circulate Capital (represented by Regula Schegg, Managing Director, Asia)and Secondmuse (represented by Laura Benns, Programs Director) joined forces to drive investment into circularity by creating an enabling environment with multiple stakeholders to integrate capital, governments, communities, and solutions.