Cdp takes stock of what has been done in the first year of activity of theJoint initiative on the circular economy, launched in 2019 together with the EIB, Caisse des Dépôts, Instituto de Crédito Oficial, KfW and Bank Gospodarstwa Krajowego.
In total they were financed projects for a value of 2,7 billion of Euro. The goal for 2023 is to invest 10 billion euros.
“During the first year of activity – says Cdp – more than a quarter of the expected five-year target, with the launch of projects in numerous sectors – agriculture, industry, services, mobility, urban development and water and waste management – and throughout the life cycle of products and services, from their design phase to the recovery phase and reuse of circular value”.
The purpose of the circular economy initiative is to make investments and financing in the risk capital of companies, in order to support the development of innovative financial structures for the construction of infrastructures, the growth of companies and the implementation of research and innovation projects.
Recently supported projects include:
GRASPAPER, a German startup engaged in circular paper production and innovative packaging
System Nature company committed to a "zero waste" approach and a transparent supply chain in the production of medicinal essences
Funding to the “Métropole du Grand Paris” for the renewal and improvement of anti-flooding systems and the reopening and reforestation of numerous small watercourses
Vestiaire collective, an online portal with over 9 million users for the sale and purchase of fine second-hand clothes
Borealis's research and development circular economy program for innovative solutions in the field of new plastics
win now program aimed at developing hardware and software solutions to reduce food waste in professional kitchens
Aqua service, a leading Spanish water service provider that reuses and recycles all its material and maintains it according to a specific repair and refurbishment program
Finance Palace (Florence), recovery intervention of existing buildings, aimed at creating new productive uses and new offices, through the enhancement and reuse of existing architectural elements, as well as the complete redevelopment of the area outside the complex.
Fabrizio Palermo, CEO of Cdp, said: “The projects carried out within the framework of the Circular Economy Initiative demonstrate the validity of the partnership established with the EIB and with the other leading European National Promotion Institutes, with the aim of promoting the achievement of the Sustainable Development Goals of the United Nations 2030 Agenda.”
