Press release
Nordic Circular Hotspot (NCH), in partnership with RISE Research Institutes of Sweden, has unveiled a roadmap to revolutionise financing for circular business models. This initiative responds to the urgent need to transition to a circular economy to combat climate change and environmental crises.
The launch of the Nordic Roadmap for Circular Financing at the Nordic Circular Summit on the 18th of October marks a significant milestone in the transition to a circular economy, demonstrating the Nordic region’s commitment to pioneering sustainable and innovative financing solutions.
The circular economy, known for its resource and energy efficiency, relies on retaining high value in products and materials. To make this transition a reality, circular business models need robust financing. The Transition Group for Circular Finance, by NCH and RISE, has worked together with a coalition of key financial actors from across the Nordics to lead the sector as it navigates the challenges associated with financing circular ventures.
The roadmap is divided into three themes:
- Knowledge and Capacity Building: This theme aims to enhance understanding of the circular economy among financial actors through international collaboration and regulatory engagement.
- Debt Financing: The goal here is to integrate circular assessments into banks’ risk-reward frameworks and credit processes.
- Equity Financing: This theme seeks to incorporate circular due diligence into investment processes.
The Nordic Roadmap for Circular Financing aims to drive financial actors toward fully embracing the circular economy by 2030. This entails integrating circular financing into core strategies, including risk assessment and investment strategies, and creating a financial market that supports a regenerative and inclusive economy.
Leader of the roadmap process, Ann-Charlotte Mellquist from RISE, says:
“The work with the roadmap has been a rewarding journey. We have engaged stakeholders both from the banking sector and from the investment sphere and we are now very happy to be able to share the joint results of our work. This roadmap is the first and very important step to accelerate circular financing in the Nordics. Let’s continue this journey together!”
“The work with the roadmap has been a rewarding journey. We have engaged stakeholders both from the banking sector and from the investment sphere and we are now very happy to be able to share the joint results of our work. This roadmap is the first and very important step to accelerate circular financing in the Nordics. Let’s continue this journey together!”Launch event: 18th October, 13:15–14:30 GMT, free online event. More information here.
Project leader: Ann-Charlotte Mellquist, RISE, Research Institutes of Sweden AB
Project participants
Knowledge team: Lukas Hallquist, RISE; Anne Raudaskoski, Ethica Oy & Nordic Circular Hotspot, Marvin Nusseck, Circle Economy, Olli Kuismanen, Tampere University.
Finance industry team: Finn Freyr Friðfinnsson, Klak Iceland; Virginia Vegas, Start-up Norway; Tomas Zimmermann, Swedbank; Amina Bang Skanse, Wasa Kredit; Ellinor Berg & Maria Flock Åhlander, Ekobanken; Pia Erkinheimo, Finnish Climate Fund; Håkan Zinders, Almi; Lara Hubmann & Peter Oser, Linx4; Frank Schreiber, CHG- Meéridian.
NORDIC CIRCULAR HOTSPOT:
Nordic Circular Hotspot is a partner-driven collaboration programme to accelerate the circular transition in the Nordics. Led by a group of Managing Partners from all Nordic countries, the NCH works to facilitate and encourage collaboration, knowledge sharing and investment in circular economy solutions. We aim to create circular change right here and now.
www.nordiccircularhotspot.org
RISE RESEARCH INSTITUTES OF SWEDEN:
RISE is the Swedish research institute and innovation partner for every part of society. Through international collaboration with industry, academia and the public sector, RISE contributes to a competitive business community and a sustainable society. Its 3,000 employees drive and support all types of innovation processes. RISE is an independent, state-owned research institute that offers unique expertise and about 130 testbeds and demonstration environments for future-proof technologies, products and services.
For media inquiries and more information, please contact:
Ina Tuomala
Communications manager
Nordic Circular Hotspot/Natural State
ina@naturalstate.no
+47 45867569
