One year after adopting its Circular Economy Package, the European Commission has reported on the delivery and progress of key initiatives of its 2015 Action Plan.
First Vice-President Frans Timmermans, responsible for sustainable development, said: “Building a circular economy for Europe is a key priority for this Commission. We have made good progress and are planning new initiatives in 2017. We are closing the loop of design, production, consumption, and waste management, thereby creating a green, circular and competitive Europe.”
Together with the report, the Commission also presented the creation of a Circular Economy Finance Support Platform with the European Investment Bank (EIB) bringing together investors and innovators.
Vice-President JyrkiKatainen, responsible for jobs, growth, investment and competitiveness, said: “Building on the achievements of the Juncker Investment Plan, I am pleased that we can again work with the EIB to match investors with innovators. Our goal is to upscale investment, both public and private, in the circular economy. It very often means new business model and they may require new, innovative ways of financing.
“This new Platform is an excellent tool to raise awareness of the circular economy projects’ immense business potential and, consequently, draw in more funding for their financing. The Circular Economy is an important element to modernise the European economy and we are on track to deliver this sustainable change.”
The Commission also issued guidance to Member States on converting waste to energy and proposed a targeted improvement of legislation on certain hazardous substances in electrical and electronic equipment.
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