Going from a linear economic model based on the take-make-dispose principle to a circular one where resources are reintroduced in the productive system is essential to reduce waste, lower the costs for the environment and society at large and achieve climate neutrality. Over the next four years, two new initiatives will close the gap between project developers and investors by providing technical and financial assistance to the most promising circular economy ideas. Together, EU-funded projects CircularInvest and DEFINITE-CCRI and will assist the Circular Cities and Regions Initiative (CCRI) in implementing circular economy strategies across European cities and regions and will secure up to €100 million investments to support circular systemic solutions.

“The transition to circular economies in cities requires business and finance models to foster the conversion of waste material into useful products. Our project development mechanism will help project owners develop robust and trustworthy circular schemes, able to leverage investment" explains Roman Mendle, Coordinator of the Sustainable Resources, Climate and Resilience team at ICLEI and Coordinator of Definite-CCRI.

Several cities, including Ghent (Belgium) and Lappeenranta (Finland), have already expressed their interest in participating as pilot cases. Project owners will have the chance to submit their application to enter the Project Development Assistance (PDA) mechanisms over the course of 2023. Follow CircularInvest to stay up-to-date.