Financing circular economy projects

Privredna banka Zagreb, as a member of the Intesa Sanpaolo Group, has joined the Net-Zero Banking Alliance under the auspices of the UN to strengthen joint efforts in the fight against climate change.

As part of the Net-Zero Banking Alliance, PBZ has committed to achieving a net zero emissions target by 2030 for its own emissions, and for its credit and investment portfolios by 2050. The sustainable business development goals integrate three key factors, environmental, social and governance (ESG) aspects of business, which include the criteria of the circular economy and green projects.

Privredna banka Zagreb, as a financial institution, provides its clients with support in the design of a new economic ecosystem, and the circular economy and sustainable development represent a great opportunity for all participants in the economy and their integration to achieve a common goal.

In 2015, ISP Group became a strategic partner of the Ellen MacArthur Foundation, one of the world's most influential organizations dedicated to the circular economy and sustainable economy.

In partnership with the Foundation, it set five main eligibility criteria for the circular economy:

• solutions that enable sustainable product design, the use of recycled materials, energy efficiency in production and the application of regenerative agriculture with the aim of reducing waste and preserving the environment
• solutions that enable circular use and extending the life of products and goods, for example by repairing, renewing, refurbishing, reusing, upgrading and remanufacturing
• solutions that enable the collection, sorting and reuse of materials to enable the circularity of products and materials at the end of their life; management of organic and inorganic materials, recycling and recovery
• advanced digital solutions such as artificial intelligence, IoT and blockchain, as well as education and open innovation, which serve as tools for the optimization and successful implementation of circular economy models
• projects that increase the circularity of the economy, at the system level, by creating connections between companies, institutions and other actors to build shared infrastructure, technologies and skills.
   

The above criteria enable the identification of suitable projects that can be financed by more favourable terms through Privredna banka Zagreb.

For additional information, please contact your client relationship manager or contact us at the ESG Competence Center for Business Entities at the following e-mail address: ESG.CORPSME.CC@pbz.hr