Opening the event, the European Commission’s Directorate-General for Research and Innovation reflected on the massive expansion of the CCRI. Indeed, the CCRI now involves almost 300 organisations and supports 140 cities and regions – nearly twice as many as one year ago – from small to large public authorities. Astrid Ladefoged, Head of the ‘Green Transitions’ unit, highlighted that ‘the CCRI family is growing fast’ and ‘its support offers are diversifying and getting more complete’.

The CCRI Office presented the initiative’s extended support scheme, which now includes the CCRI Knowledge Hub. This Hub has already gathered 150 resources and is developing new knowledge products and a mentoring programme. The CCRI is also launching new dedicated Communities of Practice, which will foster the implementation of Circular Systemic Solutions via working groups and a pairing programme.

Jan Maarten de Vet of the CCRI Office said that ‘with these new strands, the CCRI is providing complete support to make the complex challenge of implementation as simple as possible’.

The first plenary session introduced the funding landscape. Tjerk Werdenaar of the CCRI Office noted that many circular solutions in the CCRI ecosystem are at a stage where external finance is crucial.

He mentioned several useful resources, including the EIB’s Circular City Funding Guide, DEFINITE-CCRI’s Report on Investor Base and Financial Instruments, and support materials on the CCRI website.

The Circular kickstart presented its accelerator programme, which has enrolled 200 circular startups and already connected 60 such startups with investors. One example is Resortecs, which uses innovative technology for recyclable clothing. Resortecs has used circularity as its unique selling point to secure EUR 6 million in investments, focusing on the long-term financial benefit of decoupling growth from finite resources.

FRONTSH1P and Greentech Innovators had the opportunity to pitch their circular solutions to potential investors, including the EIB, the European Bank for Reconstruction and Development, and the European Circular Bioeconomy Fund, Banca Intesa SanPaolo and the (future) Defossilisation Development Fund.

Investors had the chance to network with CCRI Pilots, Fellows, Projects and advisory service providers over a matchmaking coffee, before the CCRI’s four Thematic Working Groups (TWGs) met to discuss funding opportunities and challenges linked to their respective themes.

In the TWG on Circular Bioeconomy Investors presented different investment opportunities for policymakers interested in obtaining financing for Circular Systemic Solutions linked to bioeconomy. Advisory services such as HOOP and BIOBOOST, the EIB’s Circular City Centre (EIB C3) and Green Assist explained how they can support policymakers towards project maturity and bankability.

The session offered concrete opportunities for CCRI cities and regions to identify investment and advisory service options, as well as concrete examples of circular systemic solutions for potential investments.

Similarly, the TWG on Circular Resource Management provided an opportunity for public authorities and investors to exchange ideas. Discussions revealed that although funding applications are resource intensive, they pay off in longer-term benefits.

Participants also discussed the challenge of harmonising circular economy policy priorities with business interests, given private investors must see incentives for investment, and finding an understandable common language in the complex terminology.

The TWG on Circular Industries and Industrial Symbiosis explored the role of public authorities as a facilitator, and examined different types of funding, such as grants and subsidies in early stages and debt instruments in later stages.

When it comes to industrial symbiosis, new business models involve bigger networks. This is a challenge but also an opportunity. Participants concluded that projects should involve all relevant stakeholders early on, using collaborative business modelling to align their vision.

The TWG on Circular Construction and Buildings, discussed the need to highlight social and environmental benefits in discussions around investments, for example reductions in greenhouse gas emissions.

It also discussed the need for affordability. It is crucial to use lifecycle costing and ensure that investors consider not only the investment cost, but the total cost of ownership, given that material reuse will help reduce costs over a building’s lifecycle.

The second plenary session presented success stories from the CCRI community, explaining how several projects have been supported by the initiative to access funds and progress with implementation.

LIPOR, a lighthouse project of CCRI Project HOOP, has run a composting plant for waste in Porto for nearly 20 years. It now produces compost for organic farming. LIPOR’s Susana Lopes recommended HOOP to other projects, explaining how it helped apply a multidisciplinary approach combining technological and financial aspects, including an open market consultation.

Another example came from Navarra, which has developed a regional innovation valley concept to turn the region into more of a better-connected unit. Montse Guerrero Pérez praised the CCRI’s support:

‘Thank you to the CCRI for creating all this information, knowledge, network. It’s very useful for us so we don’t have to start from scratch when we launch our own funding for collaborative projects.'

This view was echoed by Hugo Delahaye of Ville de Roubaix, a CCRI Pilot supported by DEFINITE-CCRI to meet investors, scale up its projects, and move away from its economic model of relying on imported materials.

‘I really liked the CCRI Methodology guidance,’ said Mr Delahaye. ‘It was interesting to see we were more advanced on some aspects than others, to assess where we were, where we wanted to go, and how we do it and fund it.’

Concluding the day’s discussions, Lucie Blondel of the European Commission’s Directorate-General for Research and Innovation noted the formation of a true ecosystem around the CCRI, with new stakeholders from finance, industry, SMEs and startups stepping in and joining policymakers and advisors.

‘We are here to direct you to the right door and ensure you get the best out of the CCRI,’ Ms Blondel said, referring to the initiative’s complete support scheme and the importance of considering local needs and specificities for accelerating the circular transition.

‘Now is the time for implementation’, she added, encouraging cities and regions to build on the day’s networking opportunities to secure the financing they need to scale up their circular solutions.

‘Investors have been here with us today – let us not lose this connection and make sure the discussions we are having translate into concrete investments.’

Ms Blondel concluded by mentioning next year’s CCRI General Conference which will take place as part of the EU Green Week in early June 2025 (date to be confirmed). Another great occasion to celebrate the progress of CCRI!