During 2018, the ICF has launched new lines of financing in accordance with the sustainable development goals (SDGs) of the United Nations 2030 Agenda. Institut Català de Finances (ICF) has financed a series of green economy and circular economy projects in the last few months, totalling €18.3M. Coinciding with the 2019 European Sustainable Energy Week, the entity has highlighted that its "ICF EcoVerda" loans are still available, promoted in conjunction with the Department of Territory and Sustainability of the Generalitat de Catalunya, for sustainable and socially-responsible investments.
In addition, through its venture capital activity, the ICF participates in funds that support energy transition projects and the circular economy, such as the Suma Capital project "SC Sustainability", which invests in companies that use energy more efficiently, generate renewable energy or take advantage of waste, among other activities.
The CEO of the ICF, Josep-Ramón Sanromà, remarked that "the ICF's commitment to promoting sustainable and environmentally respectful investments, which have a positive impact on the economy and society, is something intrinsic to our DNA as a public bank". "Our financing solutions respond to the sustainable development goals (SDGs) established in the United Nations 2030 Agenda", says Sanromà.
Specifically, with this new line, the ICF seeks to finance projects that promote the use of products and materials that remain within the economy for as long as possible through reuse, repair, remanufacturing or recycling, thus reducing waste generation and the extraction of raw materials. Also projects focused on servitization, i.e. moving from selling products to supplying products with a complementary added-value service. Although these loans were launched at the end of 2018, the entity "has always been committed to sustainable projects", according to Sanromà.
Financing of sustainable projects
Among the projects funded by the ICF, one to highlight is that of Catalan company Nupik (Sky Paper), which manufactures desktop products. At the moment, the company is beginning to produce new biodegradable plastic products made from plant sources with the aim of making their products more sustainable and is also promoting products made from cardboard and cellulose fibres.
Other projects financed by the entity include projects to install photovoltaic solar panels to provide full electricity supplies to companies, or the creation of a textile recycling enterprise.
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