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Press Release: Zero Waste Circular Economy, a solid investment for Sustainable Finance

Press release: Zero waste circular economy, reliable investment in sustainable finance

For immediate release: Brussels, December 1, 2020

Zero Waste Europe released a report today, emphasizing the importance of sustainable finance for a zero-waste circular economy in the recovery from COVID-19.

The "Sustainable Finance for Zero Waste Circular Economy" report addresses the current lack of clarity surrounding the concept of Zero Waste Circular Economy (ZWCE), which is usually dominated by the business agenda. By focusing on social, economic, climate and environmental benefits, it provides clear criteria for activities that need to be included, deemed eligible, and prioritized in the EU's sustainable financial classification under the umbrella of a zero-waste circular economy.

It also analyzes the proposed role of waste incineration power generation and other error solutions (such as the conversion of plastics to fuel and the incineration of waste-derived fuel in cement plants) in the circular economy; and exposes the technology’s high degree of counterproductive goals and objectives for sustainable finance. The impact of this, so to reiterate its exclusion.

Neil Tangri, head of science and policy at the Global Alliance for Incinerator Alternatives (GAIA) and co-author of the report, said:

"Although the EU has shown an active leadership role at the regional level, it remains to be seen how this positive trend will benefit the rest of the world. Sustainable finance has a chance to prove that double standards are unacceptable, and the EU can be at the international level as it does domestically. Acting. Ultimately, the EU can play a far-sighted role by encouraging other international financial institutions and aid agencies to achieve the zero-waste circular economy standard.''

Mariel Vilella, Director of Global Strategy for Zero Waste Europe and co-author of the report, added:

"Zero-waste circular economy is a reliable investment in sustainable finance. ZWCE provides investment opportunities that are beneficial to our society, the environment, and the economy, especially the recovery after COVID-19. The new zero-waste business model and zero-waste public initiatives show that investment At the upper level of the waste hierarchy-waste prevention, redesign, reuse, recycling and composting-provide greater returns than traditional investments in terms of job creation, economic recovery, and resilience. Terminal industrial alternatives, while promoting sustainability Develop the agenda and achieve a net reduction in greenhouse gas emissions and air pollution. Providing these solutions with the support they deserve can change the rules of the game in the world of sustainable finance."

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Note to editors:

The EU’s circular economy policy has gradually shaped the field of resource management based on the principles of waste grade and zero waste, from waste incineration and priority material recovery. This positive process has reached a milestone in the EU's sustainable finance taxonomy — discussed in the past few weeks — which is a key tool for mobilizing the necessary capital to achieve policy goals. Looking ahead, the taxonomy will become the basis for the development of a new regulatory framework for the financial sector. In addition, this model may have a huge impact all over the world: it may be copied and adapted to other agencies and European aid agencies operating overseas.

Media Contact:

Mariel Vilella, Director of Global Strategy for Zero Waste Europe | +44 7847 079 154

Rossella Recupero, Communications Officer for Zero Waste Europe | +39 3404739827

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