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Stephen F. Lintner World Circular Economy Forum 2017 Helsinki Finland

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Financing the Circular Economy: Role of multilateral development banks

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Stephen F. Lintner World Circular Economy Forum 2017 Helsinki Finland

  1. 1. Financing the Circular Economy: Role of Multilateral Development Banks DR. STEPHEN F. LINTNER INDEPENDENT ADVISOR ENVIRONMENTAL AND SOCIAL SUSTAINABILITY WORLD CIRCULAR ECONOMY FORUM (WCEF 2017) HELSINKI JUNE 6, 2017
  2. 2. Major International Development Trends  2030 Agenda for Sustainable Development – Sustainable Development Goals (SDGs)  Paris Agreement – Nationally Determined Contributions (NDCs)  Global Infrastructure Initiatives – Multiple Action Programs, Including Establishment of Two New Multilateral Development Banks in 2015 - Asian Infrastructure Investment Bank (Beijing) - New Development Bank (Shanghai) All are the successful outcomes of complex inter-governmental processes
  3. 3. Three Complementary Mandates Sustainable Development Goals Paris Agreement Infrastructure Initiatives S.F. Lintner (2017)
  4. 4. WCEF 2017 - Session Focus: SDGs 8, 10, 13
  5. 5. Three Transformation Initiatives Blue Economy Circular Economy Green Economy S.F. Lintner (2017)
  6. 6. MDBs: Engagement in the Circular Economy  African Development Bank (AfDB)  Asian Development Bank (ADB)  Asian Infrastructure Investment Bank (AIIB)  European Bank for Reconstruction and Development (EBRD)  European Investment Bank (EIB)  Inter-American Development Bank (IADB)  New Development Bank (NDB)  Nordic Environmental Finance Corporation (NEFCO)  Nordic Investment Bank (NIB)  World Bank Group (WBG – Includes WB, IDA, IFC and MIGA) MDBs Respond to Requests for Support from Public and Private Sector Clients Need to Emphasize Critical Importance of Mainstreaming Demand Need to Strengthen Clear and Effective Communications on the Circular Economy
  7. 7. Circular Economy: Mandates for EIB and EBRD  European Investment Bank  Circular Economy Package Including European Union Action Plan  Circular Economy Finance Support Platform (2015)  Established Sector Specific Targets  European Bank for Reconstruction and Development  Green Economy Transition (GET) Approach (2015)  40% Target for Green Investments 2016–2020 Demonstrate Potential for Transformational Actions Undertaken in a Highly Structured and Regulated Setting
  8. 8. Circular Economy: Key MDB Interventions  Policy Dialogue  Country and Sector Strategies  Investments  Financial Intermediary Funding (Including SMEs)  Mobilization of Private Sector  Guarantees, Green Bonds and Credits  Procurement  Capacity Building  Communications and Outreach  Partnerships Leading by Example Provides Support for Circular Economy Need to Avoid “Crowding Out” the Private Sector Need to Address Constraints to Accessing Funding by SMEs
  9. 9. Circular Economy: MDB Funding  Renewable Energy and Energy Efficiency  Power System Upgrading and Rehabilitation  Municipal Finance  Energy  Transport  Water and Wastewater  Solid Waste – Including Demolition Waste  Urban Development  Industrial Energy and Resource Efficiency  Transport Infrastructure – Airports, Roads and Railroads  Water Resources Management  Private Sector Programs in Manufacturing
  10. 10. Circular Economy: Observations  Concept of “choice” has lowered barriers to taking action and supported internalization  Recognition that a diversity of approaches can be used to achieve goals has increased interest  Aspirational statements and formal targets have resulted in changes in approaches by all parties  Integration into policies and strategies of MDBs is underway  It is becoming an element of investment criteria – especially energy and water  There is increased use as a basis for project justification  Innovation will be critical to success
  11. 11. Contact Dr. Stephen F. Lintner Independent Advisor Environmental and Social Sustainability sflintner@mail.com

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