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Title: Financing circular economy projects: a clinical study.
Authors: Pinto, João
Alves, Paulo
Castendo, Cláudio
Keywords: financing instruments
circular economy
clinical study
Issue Date: Jun-2022
Publisher: CICEE. Universidade Autónoma de Lisboa
Abstract: This paper interconnects the literature on circular economy and sustainable finance. In addition to describing the reasons behind circular economy projects, this paper surveys the literature on financing circularity. The financial industry plays a significant and increasing role in promoting sustainability by supporting sustainable investment projects. To obtain funds for circular economy projects, sponsors face additional challenges due to business and financial complexities inherent to such projects. We characterise and describe firms’ reasons for developing circular economy projects as well as how these projects are funded by using a clinical study focused on three projects. Extant literature presents 3Rs (Reduce, Reuse and Recycle); the reduction of cost and pollution; improvement in competitiveness, innovation, and processes; improvement of ESG ratings, and enhance reputation. All these reasons are positively correlated and address resource scarcity, impact on environment, and economic concerns. Innovative circular projects are typically funded via a mix of sustainable equity – venture capital funds, impact investors, EU funds – and debt – sustainable bonds (green and ESG bonds) and loans.
Peer Reviewed: yes
ISSN: 2184-898X
Appears in Collections:ERBE - European Review of Business Economics. Vol.2, nº1(2022)

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