Climate change has become more and more internalised, but not only in the values and behaviour of each individual, but also in management policies. For example, according to a survey carried out by the European Investment Bank (EIB) in collaboration with the survey specialist group BVA, 64% of Spaniards consider that measures related to climate change should be taken into account in the economic recovery the country is facing,
Spain, Germany, France and Malta lead the EU countries that consider that recovery must also serve to fight greenhouse gas emissions. To achieve these objectives, the organisation Zero Waste Europe has just published a report in which it highlights the importance of sustainable financing of a circular economy of zero waste in the post-COVID-19 recovery process.
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The report, titled “Sustainable Finance for a Circular Economy of Zero Waste”, addresses crucial issues such as the lack of clarity regarding what exactly a Circular Economy of Zero Waste means. According to a survey, carried out by the App for responsible consumption, Gratix, among 400 adults from all over the country, 34.5% of the respondents said they had heard the term ‘circular economy’ but could not explain what it is. Moreover, 19.5% admitted that they had never heard of this new economic model. A model that institutions are increasingly committed to at a global level to achieve a more sustainable production and consumption system.
34.5% of the respondents stated that they had heard the term ‘circular economy’ but could not explain what it is
To help with this issue, the authors of the Zero Waste Europe report have described a series of activities which given their social, economic, climate and environmental benefits should be included and prioritised in the EU’s Sustainable Finance Taxonomy. Some of the actions mentioned are:
- Establishing waste separation systems: Separating waste at the time of collection at the end of its useful life facilitates its reuse, repair, or recycling.
- Implementing recycling or reuse systems: Establishing centres and networks for the reuse of products, both public and private, to collect waste that can be reused before it is abandoned in order to give it a second life.
- Recycling: This is the basic and fundamental process that governs the Circular Economy and is based on collecting objects that have reached the end of their useful life and converting them into new materials, to give them continuity and prevent them from finally becoming waste. The key issue is that the recycling system should also be environmentally friendly. This is what Repetco has achieved by developing an innovative technology for the mechanical recycling of PET/PE packaging.
- Composting of organic waste: Separating organic waste and composting, producing compost that can be used as soil fertiliser.
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Finally, the report mentions that technologies such as waste incineration with energy recovery, chemical recycling or waste derived fuels for use in cement plants are “false solutions” and “highly counterproductive” to achieving the goals and objectives of sustainable financing.