IFC, FEPRA and PIVOT-C, together with the Romanian Government, launched “Circularity in Action Report”

Romania marked an important step towards a circular economy after the launch of the report “Circularity in Action Report | Recommendations for the Operationalization of the Circular Economy in Romania,” jointly developed by IFC, FEPRA GROUP, and PIVOT-C. The report was launched in the presence of several government officials, as the Romanian Government is a key partner for the private sector in the operationalization of Romania’s Circular Economy Action Plan.

The event gathered representatives of all major stakeholders, including Mihaela Frăsineanu, State Counsellor, Chancellery of the Prime Minister, Government of Romania, Anna Akhalkatsi, Country Manager for Romania, World Bank, Hester Marie DeCasper, Regional Head of Operations, Europe International Finance Corporation, László Borbély, State Counsellor / Coordinator of the Department for Sustainable Development, Government of Romania, Cristian Nacu, Senior Country Officer Romania, International Finance corporation, Ionuț Georgescu, CEO, FEPRA Group, Luminița Bălălău, Director, Department for Sustainable Development, Government of Romania, Murat Karaege, Senior Investment Officer, International Finance Corporation, Viorica Boboc, Senior Adviser, Ministry of Agriculture and Rural Development, Kyrylo Mukhomedzyanov, Operations Officer, International Finance Corporation, and Lucian Ioan Rus, State Secretary, Ministry of Economy, Entrepreneurship and Tourism. The event was moderated by Andreea Nicolae, Managing Partner, PIVOT-C.

“Circularity in Action Report | Recommendations for the Operationalization of the Circular Economy in Romania,” is the outcome of extensive consultations with representatives from over 70 companies in key sectors targeted by the circular economy plan, industry associations, and local authorities, conducted from May to September 2023. The report covers various aspects of the circular economy, such as sector-specific action plans, financial mechanisms, capacity building, technology adoption, policy harmonization, public-private partnerships, awareness campaigns, innovation hubs, evaluation frameworks, and international collaboration. The report also presents global examples and best practices, serving as a reference for the integration of a national circular economy plan.

”Our collaborative efforts with various stakeholders, including businesses, NGOs, and academic institutions, are essential for the development of circular economy as a significant economic opportunity for Romania,” stated Mihaela Frasineanu. “Initiatives like ‘Circularity in Action’ developed by IFC allow us to identify innovative solutions for realizing the current plans of the Circular Economy Coordination Committee. The enthusiastic contribution of the private sector with recommendations for the joint operationalization of circular economy plans is particularly encouraging and demonstrates that we have a shared vision regarding circularity.”

The report represents a synthesis of extensive consultations and collaborative efforts with diverse stakeholders and it presents a selective set of operationalization proposals out of feed-back from the private sector and IFC experience with specific projects, that are designed as actionable recommendations for the Romanian Government and central authorities, aimed at facilitating the effective implementation of the National Circular Economy Strategy (NCES) and the Circular Economy Action Plan (CEAP) launched in 2023.

These proposals were developed through a comprehensive engagement process with sectorial consultations, workshops and in-depth dialogues with industry professionals, associations, consultants and local authorities. They address critical aspects of the circular economy, including regulatory frameworks, financial incentives, educational initiatives and infrastructure development. The proposals are designed to ensure environmental sustainability, economic viability and social inclusivity.

This Report complements the current CEAP by providing additional, practical and actionable recommendations from the private sector. These proposals are the stepping stones towards a future where circular economy principles are embedded in Romania’s socio-economic fabric.

“We are fully committed to making the Circular Economy Action Plan a reality, and while we undertake over 52 strategic actions with their own associated action plans, the essence of our success lies in the collective effort and shared enthusiasm of all stakeholders. The IFC-initiated ‘Circularity in Action’ initiative offers more than just a platform for exchanging ideas. The proactive commitment and innovative contributions of the private sector are particularly commendable. Together, we are not just planning, but actively shaping a future where economic growth and environmental stewardship go hand in hand,” said Laszlo Borbely.