Financing the transition to a more circular economy – A comparative analysis of Australia and the Netherlands
- Publication Type:
- Thesis
- Issue Date:
- 2024
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The transition to a more circular economy is increasingly recognised as key to achieving sustainability goals and addressing the triple planetary crisis of climate change, biodiversity loss and pollution. The research considers the role of the financial sector in enabling the transition to a more circular economy in the Netherlands, considered a leader in financing the circular economy, and Australia, where momentum is building but is still in the early days in terms of financing the transition. A literature review provides an overview of the current linear economy, the circular economy as a systems solution and the opportunity of sustainable finance. A qualitative comparative case study analysis using the multi-level perspective framework has been undertaken across the financial systems of both countries to consider the evolving policy landscapes, financial market developments in financing circularity, as well as the common barriers and enabling factors. The research draws key insights and lessons from the Dutch experience that are applicable to Australia, including policy, education, the important role of co-financing and other levers, to encourage the systemic changes required for the Australian financial sector to play a greater role in financing the transition.
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