The Institute of Agricultural Resources and Economics (AREI) brings the economic, financial and policy analysis expertise in the CIRCLE project to study circular bioeconomy. The institute has contributed to different activities of the CIRCLE project. First, AREI team has written two theory primers which will contribute to the development of the project’s joint conceptual framework:
- Cost-benefit analysis: this theory primer discusses the essence of circular bioeconomy and outlines how to apply cost-benefit analysis to the cases, ie, business models related to circular economy.
- Value chain analysis: this theory primer examines the concept of value chain analysis as well as outlines how to implement value chain analysis in the CIRCLE project. Value chain analysis complements cost-benefit analysis, and especially it contributes to the determination of the benefits.
Second, AREI team has participated in Work Package 2 “Scoping and mapping the diversity and performance of cross-sectoral circularity” which aims at the identification of the variety of initiatives involving circular use of bioresources in and across three bioeconomy sectors – agriculture, forestry and aquaculture. In particular AREI has contributed to the development of Methodological guidelines which will guide mapping of circular initiatives, as well as to the identification of intra- and cross-sectoral circularity initiatives in the Baltic-Nordic region. The work in Work Package 2 continues.
In addition, AREI has started a research project (in Latvian) on the impact of EU regulations promoting sustainable finance on agriculture, especially focusing on the EU Taxonomy. According to the EU Taxonomy, the transition to a circular economy is one of six main environmental objectives. Therefore, AREI team expects the synergy between this project and the CIRCLE project.
