The Signatories of the RMC-Covenant Circular Economy 2022 will fix a value chain public-private coordination scheme (inspired by the Covenant of Mayors) at the Regional/City level between public and private interested parties – as well as between Regions and Cities and promote a new multi-stakeholders co-operation and planning vision for innovation and Circular Economy shaping a new prosperity model.
The Covenant itself would be signed second half of 2015 (EU Luxemburg Presidency). In view of Rio+30, the Covenant will be registered under the provisions of §283 of the Rio+20 outcome document.
The Signatories commit to contribute to an open-coordination process for partnerships related to a circular economy – as follows:
- Covenant Signatories will fix objectives and a system of public-private coordination at the Regional/City level between interested parties as well as between signatories Region/Cities. They will be in line with the European Innovation Partnership (EIP) on Raw Materials priorities, the sustainable development goals, which will incorporate and expand the Millennium Development Objectives, as well as with the international initiatives on transparency and accountability.
- Each Region/City and or Company signatory of this Covenant will fix in one year time an integrated Circular Economy Action Plan in support to the Strategic Implementation Plan (SIP) and value chain management at territorial level.
- Each Region will establish a link with the Structural Fund Operational Plan a Region has to adopt. Regions and Cities will activate their procurement power. Companies and citizens will make use of their purchasing and investment powers while universities and clusters will contribute to innovation.
- To the extent Regions/Cities and/or Companies are active at the international level on circular economy we will explore opportunities of co-operation with non EU Member States with which the European Commission has signed Economic Partnership Agreements (EPA) related to raw materials.
- We are committed to a dialogue at regional level and between regions on the basis of progress reports among interested parties. This will lead to open coordination of multi-stakeholder platforms within the value chains in areas such as waste management or Extend Producer Responsibility (EPR) schemes, mining and deep sea mining, phosphorus, the energy-food-raw materials-water nexus, transports, finance, urban development, sustainable lifestyles.
- We will involve Cities, Clusters, Poles of excellence, Financiers (public and private banks), National and Regional resource efficiency agencies and business clubs.
A European Secretariat will collect the results of signatories actions at the regional and local levels. These actions will serve as examples for others to follow, notably through referring to the Benchmarks of Excellence a database of best practices submitted by the Covenant signatories. The Secretariat will facilitate biennial joint progress reviews.
A Memorandum of Understanding is signed with other relevant initiatives at UN and EU levels and with the Covenant of Mayors.
The Covenant Secretariat will provide the European Innovation Partnership (EIP) with a joint report of aggregated outcomes, findings and recommendations. This will be done in order to deliver the targets of the EIP and contributing to the overall objectives of the EIP.