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  • Aug 10, 2024

LoopedIn: August 2024

Updates from Paul Shorthouse, CELC’s Managing Director

Last month, the United Nations Environment Programme Finance Initiative (UNEP FI) released a new report on “Leveraging the Nexus between Circularity and Sustainability Impact”, which is aimed at how to operationalize the interlinkages between circular economy and climate, nature, pollution, and healthy and inclusive economies.

The report was released in conjunction with three additional resources:

  • Guidance Document for banks and financial institutions that provides a deeper dive on the linkages between circular economy and climate mitigation.
  • Two sectoral supplements focused on circular solutions for achieving climate targets in two high-impact sectors: buildings / construction and textiles.

CELC continues to work with UNEP FI and Canadian financial institutions as part of our Circular Finance in Canada Workstream 2.0, which is focused on building greater awareness and capacity on the topic and deepening the understanding of the finance sector’s role in supporting the circular economy in Canada, including its linkages to addressing climate change, nature loss, and social impact.

The work is also looking to identify key risks and opportunities preventing or allowing capital flow to circular business models, projects, and infrastructure through enhanced lending, investment solutions, and financing options (e.g., microloans, low-interest loans, innovative leasing, etc.).

All of this is important given the enabling role of finance in supporting the accelerated transition to a more circular economy in Canada.

 

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