The circular economy, which is linked both to GreenDeal and to the European blue economy objectives, can contribute to… accounting for reducing emissions and thus climate protection. In fact, a variety of financial instruments can activate investments in all EU member states, especially in the environmentally sensitive – environmentally, economically and socially – island area.
The Circular Economy proposes the replacement of the economically unprofitable and inefficient linear economy system of open production cycles (production-consumption-disposal) with a closed one where waste is minimized as it is reused in the production process as input (raw material), creating value. It can be a development tool to contribute to increasing productivity, optimizing the use of natural and human resources and increasing efficiency in resource management.
Investment opportunities in the field of circular economy?
According to the European Green Deal for 2050, the goal is for Europe to be the first continent in the world with a zero negative environmental footprint. This transition is an opportunity to expand or even transform existing productive activities into new environmentally and socio-economically sustainable ones.
The circular economy provides opportunities for investment, new activities and jobs, making a key contribution to achieving the 2050 target. Circularity has created new jobs and business opportunities, introduced new business models and developed new markets, both inside and outside the EU. .
In 2016, cyclical activities, such as repair, reuse or recycling, created an added value of about 147 billion euros, while the value of related investments amounted to approximately 17.5 billion euros.
Are the peculiarities of the European island area an obstacle to their sustainable development?
The island area is distinguished for its peculiarities and for the specific permanent elements of “insularity” such as the small size (which implies a small availability of natural resources), the small population (small market), the isolation and regionality and the unique but fragile natural and cultural environment.
These data have a negative effect as they indicate difficulty of physical access, lack and difficulty of access to services and infrastructure, lack of quality of services and limited existence of (equal) employment opportunities – which are the main axes of unattractiveness of the islands. Under these constraints, “insularity” affects – determines the development model that the islands can adopt in order to have competitive actions as it does not allow economies of scale and concentration and high accessibility, causing high costs of business production, state operation and living of residents.
The tools of the circular economy as a lever for growth for the islands of EU member states, but also for its island region in general?
In terms of island policy, the circular economy should be a key goal for the development of islands and island regions, helping to achieve a balanced development that will make the islands sustainable for all days of the year despite the peculiarities. Policy priorities, measures, actions and financial instruments should be a priority for the governments of the Member States that have island territories in their territory.
Specifically in terms of port policy, the principles and objectives of the circular economy (reduction of the environmental footprint, optimization of production and maximization of the useful value of the produced products, minimization of waste, use / reuse of materials, etc.) are deemed necessary to be incorporated in design, operation and development of ports.
Respectively in terms of island policy, accessibility and development, the Strategy for the Circular Economy of each government should take into account the horizontal dimension of insularity, the special conditions, and the possibilities and opportunities that open up for the island area, with a statement for training financing for island entrepreneurship in the field of Circular Economy.
In addition, reference should be made to boosting employment by supporting specialization training and skills development activities in the circular economy, supporting the transition to a circular economy by investing in the establishment of social enterprises and integrating them into the respective production chains (ie economy).
Examples of circular economy programs
The Circular Economy as a tool of sustainable development for the island area already finds application in economic activities such as Tourism and the food processing sector, as well as at the level of a municipality as a whole, especially in terms of energy autonomy, solid and liquid waste management and water.
Also, a circular economy program with emphasis on waste reduction and reuse is the commonseas.
Finally, individual tourism units in addition to the institutional obligations for their waste management to take initiatives for zero waste and zero emissions through programs or not, in collaboration with educational institutions and institutes.
All this identifies a positive predisposition of stakeholders – government structures, local government, businesses, citizens – to move to a circular economy. But the transition to a more cyclical economy requires the active participation of citizens in changing consumer patterns as well as the development of additional policies, measures, incentives and actions.
