Senior officials from the Dutch Government and the UK’s Department of Department for Environment Food and Rural Affairs (DEFRA) convened to set out a path toward closer cooperation in financing a circular economy.
Both the Netherlands and UK Governments, with support from the Dutch Banking Association, invited representatives of the UK and Dutch finance sectors to form a Circular Economy Finance Coalition. The Coalition would identify ways to boost investment in the transition to a circular economy, including: developing the necessary infrastructure and innovative business models; exploring wider application of the Circular Risk Scorecard developed by the Netherlands; mapping and quantifying finance gaps and investment opportunities; and jointly developing practical steps to support greater investment.
These decisions were made at a UK-Dutch Roundtable Dialogue on Financing the Circular Economy, hosted by the Lord Mayor of London, Alastair King, at Mansion House. The event brought together senior government officials and private sector leaders to explore how to remove barriers and unlock greater investment in the circular economy. As the UK and Netherlands continues to de-carbonise and transition to a circular economy there is greater need for infrastructure investment to reuse and repair waste at scale and recycle more difficult materials such as plastic film and textiles. This could present significant economic opportunities. In the UK, industry estimate that incoming waste reforms could stimulate an estimated £10 billion investment in recycling infrastructure over the next ten years and create 21,000 new jobs.
The roundtable comes as the UK government recently announced its ambition to transition to circular economy by 2050, with the launch of the UK Circular Economy Taskforce in November 2024, and as the Dutch Government updated their 2030 National Circular Economy Programme.
Secretary of State for Environment, Food and Rural Affairs Steve Reed said:
“It’s time to end Britain’s throwaway society – the status quo is economically, environmentally, and socially unsustainable.
“Moving to a circular economy represents a pivotal opportunity for British businesses to innovate, grow and lead the world, so we can slash waste and strengthen supply chains.
“Our vision for delivering a truly circular economy is an important step on this path to change. That’s why we’re working with our partners in the Dutch Government and Corporation to boost investment that can support the transition to a circular economy.”
Lord Mayor of London Alastair King said:
“It brought me great pleasure to bring UK and Dutch partners together to discuss this important issue, cementing the already strong relationship between the UK and The Netherlands.
“In addition to being Europe’s top financial centre, London is also the world’s number one hub for green finance. The transition to a circular economy presents huge economic opportunities. By working together to unlock private and public investment in vital new infrastructure, we can unleash new growth for both our nations.”
Dutch Minister for the Environment and Public Transport said:
“Enhancing private investment in circular businesses helps support further economic development. Bilateral cooperation and the exchange of best practices is essential because of the cross-border nature of the financial industry. I believe that this event in London, the financial centre of the world, will be a steppingstone for further collaboration between the UK and the Netherlands on circular finance.”
ENDS
Notes to editors
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