Intesa Sanpaolo 5 billion for companies that adopt the circular economy

Sustainable development is not only useful for the future of our planet, but also an opportunity for our economy, given the changes in production methods that can create opportunities for investment and growth. In order to support and seize this opportunity at the same time, Intesa Sanpaolo has decided to help facilitate the transition of businesses and consumers to the circular model. The 2018-2021 business plan has activated a ceiling of 5 billion euros for the support of companies that adopt the circular economy with innovative methods, offering the best conditions for access to credit.

"Innovation is at the basis of the evolution of society and constitutes a lever of competitiveness in increasingly complex and globalized markets, even in the food sector." Environmental sustainability and social is an essential condition for new food chains.The circular economy combines these two factors in order to set up a new economic system capable of regeneration, "said Vincenzo Antonetti, Responsible Promotion and Development of Innovation, dell & # 39;International Network of the Intesa Sanpaolo Innovation Center, at a meeting in London titled & # 39;Cities and Circular Economy for Food".

The current linear "make-do-dispose" production system is extremely expensive. According to the United Nations Food and Agriculture Organization (FAO), about one-third of global food production for human consumption, or about 1.3 billion tonnes, is wasted every year. In industrialized countries, food waste accounts for about $ 680 billion and is mainly consumed by retail chains and consumers. In developing countries, they amount to $ 310 billion and also concern areas of agricultural production.

The circular economy represents a great opportunity to combine economic activity and sustainability, leveraging cities to catalyze change, generating 85% of global GDP and 75% of resource consumption. "It is only in London that the circular economy of the food sector could generate a potential growth of 2 billion pounds a year," said one of the experts invited to the debate, Jean Bilant, senior business advisor. These opportunities would come from transforming the entire agri-food sector, from agriculture and livestock to the production of packaging, which could be made from reusable or recycled materials.

"The current products are not designed to last long or to be easily repaired, but we must guarantee a future not only for the economy but also for humanity. from a linear economy to a circular economy, and financial institutions will play a fundamental role in this transition, "said Luigi Riccardo, an expert onIntesa Sanpaolo Innovation Center. The latter is the company of the group specifically dedicated to the border of innovation. It currently employs 60 people, who will soon become 100 people, who are tasked with evaluating the most interesting projects and start-ups to support. Ecodyger, which manufactures B2B machines that turn organic waste into compost, RiceHouse, which creates new materials for sustainable construction from rice crop waste, Hexagro, manufactures urban farms with the help of aeroponic technology. Toast Ale, which brews fresh beer and Winnow, helps chefs measure, monitor and reduce food waste with new technologies.