Transitioning to a circular economy requires a significant increase in circular finance and funding instruments to support the development and scaling of circular economy pilots, business models and infrastructure. Yet both industry and the financial and funding sectors encounter considerable challenges. For one, regulations, markets, investment tools and practices, including financial risk assessment, are adjusted to linear models, and negative externalities and risks linked to linear business models are largely not considered.

In an Irish context, the EPA estimate that annually we use 100 million tonnes of materials – where implementing a 5% material improvement across the economy would represent an annual €2.32bn opportunity. Moreover, valorising waste creates opportunities for import substitution and reinforces the economic benefits of regional supply-chains to Irish companies.

If Ireland is to effectively transition to a net-zero carbon economy and unlock the wider benefits of a circular economy, then it will be critical that our funding and financing landscape is strategically aligned with this goal.

During this 2-hour virtual session, CIRCULÉIRE’s Financing the Circular Economy Thematic Working Group Expert Facilitators, Liz Gavin (Digital Village), and Kate Van Der Merwe will present the main findings including:

• State of play of Ireland’s circular finance and funding landscape, and the role finance can play in driving Ireland’s shift to circularity.
• Major barriers to financing Ireland’s circular economy and recommendations identified to overcome them.
• Innovation opportunities identified by CIRCULÉIRE’s cross-sectoral Thematic Working Group Panel Members about how Ireland’s funding and finance landscape might be optimised for a circular economy.

The session will be chaired by Sophie Reynolds (Circular Economy Technologist, Irish Manufacturing Research) and will include a Q&A session.