GEF: Circular Economy Regional Initiative (CERI)



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PSD disclosed:

19 Nov 2020

Project Description

Until recently, efforts to combat climate change have mainly focused on deploying more renewable energy and scaling up energy efficiency. According to the Ellen MacArthur Foundation, such measures only address 55% of the global emissions while the remaining 45% of the emissions are related to how products are being made and consumed.  Additionally, 90% of global biodiversity loss is related to extraction and processing of materials.

The benefits of transitioning to a circular economy are significant. If implemented worldwide, the material cost savings have been estimated as nearly USD 1 trillion per year by 2025, and with business opportunities of USD 4.5 trillion.  In the EU alone, it is estimated that the transition to a circular economy would result in savings of USD 630 billion per year for just medium-live products, with significant job creation and increase in GDP of between 3 to 4% compared to 2010 levels.

The EBRD has established expertise in identifying and financing circular economy opportunities. From 2014 – 2019, the Bank financed more than 100 projects supporting circular economy products and business models, contributing more than EUR 1 billion in finance.

With population increase and economic growth, the use of resources in the EBRD region has accelerated considerably and there is great potential for transitioning to a circular economy. Besides its contribution to addressing climate change and resource scarcity, transitioning to a circular economy in the EBRD region can improve the security of the supply of raw materials, increase competitiveness, promote innovation and boost economic growth while addressing material intensity.

In cooperation with the Global Environment Facility (‘GEF’), the Bank is launching the Circular Economy Regional Initiative (“CERI”) aiming to support investments in private, public and municipal sectors which implement innovative resource efficient technologies, circular processes and adopt circular business models in Turkey and Albania, Bosnia-Herzegovina, Montenegro, North Macedonia, Serbia. This will be achieved by (i) improving management of raw materials during the full lifecycle of products and diverting waste from landfills and the marine environment, (ii) reducing/avoiding “GHG” emissions, (iii) eliminating, preventing and improving management of harmful chemicals - specifically Persistent Organic Pollutants (POPs) and unintended Persistent Organic Pollutants (UPOPs).

The CERI consists of three components:

  • Component 1: Implementation of circular performance-based financing (concessional co-financing)
  • Component 2: Technical Assistance for adopting circular technologies and processes, and strategies
  • Component 3: Monitoring and evaluation

This PSD relates to Component 2 only. There will be two types of TC activities provided to potential/existing EBRD clients

1)  Circular Economy Roadmap - support a client in its circular transformation by adoption of circular strategies and business practices and develop a circular economy roadmap that takes into consideration of women and men’s differentiated needs and vulnerabilities.  This will help the Client in the integration and enhancement of circular principles in their business strategy.

The main objectives of the Roadmap Assignment are the following:

(i) Perform an initial scoping exercise to identify potential entry points; (ii) Assess and benchmark the Company’s products, production process and services to identify areas for improving circularity in line with existing and emerging circular economy standards and pioneers in the sector; (iii) Identify intervention points based on benchmarking and priority actions; (iv) Develop a circular economy roadmap; and (v) Enhance women’s participation in the process at all levels of the Company by taking into consideration the findings of Equal Opportunity Action Plan, when applicable

2) Circular Economy Assessment - Assess the technical choice and financial viability of the potential investment as well as to explore other circular opportunities in the Company’s facility and business model (including POPs reduction/avoidance in production process and adopting low/non chemical systems) as well as ensuring the gender-responsiveness of the Project where applicable. The Consultant will also verify that the identified opportunities are in line with industry best practices and analyse additional opportunities that might be considered in the future.

Any competitive selections for business opportunities relating to this project will be published on the EBRD's website: Consultancy Procurement Opportunities.

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

Access to Information Policy (AIP)

The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email to get guidance and more information on IPAM and how to submit a request.

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