At the United Nations Climate Change Conference (COP29) in Baku, Azerbaijan, Multilateral Development Banks (MDBs) presented their first joint report on the circular economy: “The circular economy in motion”.
The report presents 20 detailed case studies from around the world and a variety of areas ranging from waste management and food to the construction sector, plastics, textiles, battery recycling and the recovery of critical raw materials. The case studies provide a snapshot of the MDBs’ support to the circular economy that spans advisory services, financial support to governments, private-sector investments and backing to the financial sector.
“The African Development Bank acknowledges the transformative potential of circular economy to generate youth employment and ecological benefits through regenerative practices and efficient resource use. Through the Africa Circular Economy Facility (ACEF), the Bank is committed to continue to empower African countries to harness the numerous opportunities of the transition to circularity”, emphasized Dr Anthony Nyong, Director for Climate Change and Green Growth at the African Development Bank.
