The circular economy aims to reduce resource use, reduce raw materials consumption, and extend product lifespans. Insurers must consider covering risks associated with recycled products. A UK-Dutch Roundtable Dialogue was hosted by the Lord Mayor of London to explore financing the circular economy. The event brought together government officials and private sector leaders to identify ways to boost investment in the transition to a circular economy. The UK and Dutch governments announced their intentions to transition to a circular economy by 2050 and 2030, respectively.
The UK Government’s Secretary of State for Environment, Food and Rural Affairs, Steve Reed, emphasized the need to end the UK’s “throwaway society” and the economic, environmental, and social benefits of a circular economy. Lord Mayor of London, Alastair King, highlighted the economic opportunities presented by the transition to a circular economy. Dutch Minister for the Environment and Public Transport emphasized the importance of bilateral cooperation and exchange of best practices in the financial industry. The event aimed to boost investment in circular businesses and create new infrastructure to facilitate the transition to a circular economy.