Financing the Circular Economy Transition

Description:

The circular economy can help meet global sustainability goals, address local environmental priorities, and deliver economic returns. However, the financing of circular solutions faces challenges.

This outcome-oriented virtual event focussed on accelerating and scaling up circular financing, from the global to the local level. The event began with a global view of opportunities and challenges curated by the UNEP Finance Initiative followed by an in-depth look at local applications specific to Canada.

Powered by GLOBE Series, this outcomes-oriented virtual session focussed on key framing questions including:

  • Despite a lack of harmonized frameworks, taxonomies, and metrics, what circular financing solutions are being implemented today?
  • How can we accelerate the scale-up of circular finance within the financial sector, to financial institutions not yet actively involved in circular financing, and across the supply chain, including SMEs?
  • What are the potential returns and associated risks of investing in circular products, services, and solutions?
  • How can we leverage the intersection of circular economy with broader ESG investment opportunities, the UN SDGs, net-zero climate commitments, and green economic recovery objectives?

The first part of the session was a globally focused panel featuring a diversity of views on financing the circular economy. Speakers included: 

  • Marisela Alvarenga, Chief of the Financial Intermediaries Division, IDB Invest
  • Gerald Banaga-Baingi, Assistant Commissioner-Technical Planning, Uganda Ministry of Energy and Mineral Development
  • Jean Luc Lavergne, Founder, Lavergne Group  
  • Jan Raes, Global Sustainability Advisor, ABN AMRO
  • (Moderator) Peggy Lefort, Resource Efficiency Coordinator, UNEP Finance Initiative

The second part of the session featured a series of interviews focused on financing the circular economy in Canada, featuring a range of Canadian financial institution perspectives. Speakers included: 

  • Michelle Bonner, Community Investment Portfolio Manager, Vancity 
  • Michela Gregory, Director ESG Services, NEI Investments 
  • Jonathan Hackett, Co-Head, Energy Transition Group and Head, Sustainable Finance and Managing Director, BMO Capital Markets  
  • Gildas Poissonnier, Director, Sustainability and Responsible Finance, Desjardins
  • (Moderator) Elizabeth Shirt, Managing Director, GLOBE Series 

 

This public event was targeted to an audience of international and Canadian finance and investment business leaders, practitioners, and policymakers.