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The Role of Banks for the Transition to Circular Economy

In: Circular Economy - Recent Advances, New Perspectives and Applications

Author

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  • Virginia Ivanova Zhelyazkova

Abstract

The financial system as a whole--in Europe the banks, in the USA mainly the stock exchanges--is oriented mainly towards financing the linear economy. It is the dominant economic model; the production cycles, hence the business cycles of the individual industries and products, are well known. This ensures relative predictability of the amount of expected profits they generate, and it gives the necessary degree of probability for the financial markets for the return on investment. In order for banks to provide the much-needed resource for the transformation of the linear economy into a circular one, they must undergo a major transformation. It is multi-layered and, of course, has many specific characteristics. As banks definitely play a dominant role in Europe\'s financing of the economy, the analysis in this paper will focus on them. Certain main trends will be presented, related to circular economy and directing to the future development of individual segments within their framework.

Suggested Citation

  • Virginia Ivanova Zhelyazkova, 2021. "The Role of Banks for the Transition to Circular Economy," Chapters, in: Tao Zhang (ed.), Circular Economy - Recent Advances, New Perspectives and Applications, IntechOpen.
    • Handle: RePEc:ito:pchaps:218063
    DOI: 10.5772/intechopen.94522
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    More about this item

    Keywords

    circular economy; linear economy; environmental risk in lending; green bank; transformation;
    All these keywords.

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development

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