Over the last year, these six financial institutions supported projects across a variety of sectors including agriculture, industry and services, mobility, urban development, waste and water management. The projects span over all stages of the value chain and lifecycle of products and services, from circular design to value recovery. The most recent companies and projects supported include:CREAPAPER, a German start-up for circular paper production and innovative packaging. It produces paper from grass, which not only saves wood as a raw material but also results in significantly lower CO2 emissions and water consumptionVestiaire collective, an online marketplace that allows its more than 9 million users to sell and buy second-hand luxury fashion piecesWinnow to develop software and hardware solutions to reduce food waste in professional kitchensAquaservice, a leading Spanish water service provider that reuses and recycles all its material and carries out maintenance with a repair and reconditioning programmePalazzo delle Finanze (Firenze)a recovery intervention of the existing buildings aimed at the establishment of new productive uses and annexed offices as well as the complete redevelopment of the area outside the complexStarmeat, top quality meat processing Polish manufacturer using an innovative process to reduce wasted meatKfW CEO Dr. Günther Bräunig said: “Besides cutting climate-damaging greenhouse gas emissions, the reduction of consumption of new resources is a further central challenge on the way to a future-proof economic system. The transformation to a sustainable economy requires enormous investments which can only be done jointly. We are proud of the success we have achieved in promoting a circular economy together with our partners in Europe. We will not rest on our achievements and rather see them as further encouragement.”Joint Initiative on Circular Economy animation After its first year of operation, the Joint Initiative on Circular Economy provided 2.7 billion of long-term financing for projects that will help accelerate the transition towards a circular economy.