New report on circular finance shows Madaster supports circular construction
A recent report by Circular Norway, The role of the financial industry as a driving force in the circular economy’, shows that the financial industry rarely integrates linear risks into their assessments and lacks knowledge about the benefits of the circular economy. The report was launced by Finance Association and Circular Norway on 8 March of this year. It outlines several risk factors within the linear economy, such as scarce access to resources, uncertainty about the price of natural resources, changes in regulations, technology, markets and reputational risks.
Madaster Norway is referred to as an example of a circular solution for the construction industry. The construction industry is Norway’s largest mainland industry with a large climate footprint. This is why collaboration with the financial industry is very important to achieve a more circular construction sector. A lack of circular data and indicators in standard formats, together with a lack of both competence and willingness to invest time and resources in circular knowledge development are all barriers to circular success.
Our digital platform supports the transition towards a circular economy by registering building information, such as on carbon footprint and toxicity, calculates the residual value of recycled materials and generates material passports on circularity value. The related insights can be used as documentation for green loans and insurance.
‘We see the value of working closely with the financial sector to accelerate the transition towards a circular economy.’ – Marie Drange, CEO of Madaster Norway.