Table 2. Sustainable financing...

Table 2.

Sustainable financing strategies for circular infrastructure project life cycle

No.	Sustainable financing strategies for circular infrastructure projects	References	No.	Circular infrastructure project life cycle stages
No.		References	No.	Design	Procurement	Execution	Completion	Operation	End of life
A	Access to funds for circular infrastructure projects
1	Public equity funds	[1, 8,15 ,17 ,20]	5	√	√	√	√	√	√
2	Corporate bonds	[5, 26]	2	√	√	√	√	√	√
3	Private market funds	[26]	1	√	√	√	√	√	√
4	Innovative funding and finance	[8, 9, 10, 11, 13, 16, 17, 18, 19, 20, 26, 28,30]	13	√	√	√	√	√	√
5	Green bonds	[6, 7, 8, 9, 11, 12, 13, 16, 17, 18, 22, 23, 24, 25, 30, 31]	16	√	√	√	√	√	√
6	Credit institutions	[1, 12, 13, 15]	4	√	√	√	√	√	√
7	CE venture capital	[1, 8, 9, 10, 11, 17, 18, 19, 22, 31]	10	√	√	√	√	√	√
8	Company’s internally generated funds	[1,5,12,17]	4	√	√	√	√	√	√
9	Green loan	[8, 7, 9, 12, 15, 18, 20, 25, 31]	10	√	√	√	√	√	√
10	Green finance	[8, 9, 11,12,13,14,15,16, 22, 24, 29]	12	√	√	√	√	√	√
11	Green climate fund	[8, 16 ,19 ,30]	4	√	√	√	√	√	√
12	Green credits	[8]	1	√	√	√	√	√	√
13	Sustainable/ green banking	[1, 12, 8, 16]	4	√	√	√	√	√	√
14	Sustainable finance	[7, 8, 12, 17, 22]	5	√	√	√	√	√	√
15	Environmental finance	[8]	1	√	√	√	√	√	√
16	Sustainability bonds	[8, 31]	2	√	√	√	√	√	√
B	Quality of financial resources
17	Providing valuable collateral (guarantees) to secure funding for circular infrastructure projects	[1,17]	2	√	√	√	√	√
18	Access to external funds with reasonable interest rate and other cost associated with external funding	[1,17]	2	√	√	√	√	√	√
C	Cost management practices
19	Cost reduction through resource efficiency or minimization of resource consumption	[3, 18, 19, 27, 28]	5	√	√	√	√	√	√
20	Reverse logistics practices	[3, 8]	2		√	√	√	√
21	Waste reduction practices	[3, 18]	2		√	√	√	√
22	Circular procurement financing	[7, 8, 9, 10, 13, 16, 17, 18, 20, 29, 31]	11		√
23	Just in time delivery	[18]	1			√		√
24	Funding circularity at the design phase	[8, 15]	2	√
25	Financial risk assessment	[13]	1	√	√	√	√	√	√
26	Standardization and integration of circular metrics into financial reporting	[1, 3, 6, 7, 8, 10, 11, 13, 16, 18, 27, 29]	12	√		√
D	Government financial support
27	Green tax exemptions	[1, 4, 7, 8, 9, 10, 12, 17, 18, 20, 21]	11	√	√	√
28	Import duties incentives	[1, 4, 8, 9, 10, 12, 17, 24]	8		√
29	Subsidies/incentives	[1, 3, 4, 5, 7, 8, 9, 10, 11, 12, 16, 17, 19, 20, 27]	15		√	√
30	Soft loans	[1, 4, 7, 8, 9, 10, 12]	7	√	√	√
31	Financial policy formulation for circular infrastructure projects	[1, 2, 3, 4, 7, 8, 10, 12, 18, 20, 23, 27]	12	√
32	Start-up financing and grants	[1, 4, 7, 9, 10, 11, 17, 19, 20, 31]	10	√
E	Technology and innovation
33	Investment in CE technology and innovation	[1, 2, 3, 4, 9, 13, 16, 17, 18, 20, 21, 22, 23, 26, 27]	15	√	√	√	√	√	√
34	Green innovation	[1, 2, 5, 9, 11, 14, 15, 18]	8	√
35	Digital finance on green investment	[7]	1	√	√	√	√	√	√
36	Investment in energy efficiency and renewable energy	[1, 12, 13, 16, 17, 26,19]	7	√		√		√
F	Project organizational initiatives
37	Commitment and leadership of contractor and client toward achieving financial performance	[18, 20]	2	√	√	√	√	√	√
38	Adequate financial knowledge and experience of the project team	[2, 18, 27]	3	√	√	√	√	√	√
39	Knowledge and capacity building in life cycle cost management of circular infrastructure projects	[1, 2, 7, 9, 10, 11, 14, 15, 16, 18, 19, 20, 22, 21, 23, 27, 28, 29, 30]	19	√	√	√	√	√	√
40	Awareness creation on cost reduction practices	[2, 7, 9, 18, 21, 22, 27]	7	√		√	√
41	Competitive pressure towards circular infrastructure projects	[18, 20]	2				√
42	Financial quality management	[1, 18, 27]	3	√
43	Market orientation	[18, 28]	2					√
44	Collaborative financing between relevant stakeholders	[2, 6, 8, 9, 10, 11, 12, 13, 16, 18, 22, 24, 25, 27, 28, 31]	17	√	√	√	√	√	√
45	Financial risk-sharing mechanisms	[3, 4, 7, 8, 9, 10, 12, 13, 19, 22, 24, 25, 28, 30]	14	√	√	√	√	√	√
46	Decent employment opportunities	[15, 27]	2	√	√	√	√	√	√

No.	Sustainable financing strategies for circular infrastructure projects	References	No.	Circular infrastructure project life cycle stages
No.		References	No.	Design	Procurement	Execution	Completion	Operation	End of life
A	Access to funds for circular infrastructure projects
1	Public equity funds	[1, 8,15 ,17 ,20]	5	√	√	√	√	√	√
2	Corporate bonds	[5, 26]	2	√	√	√	√	√	√
3	Private market funds	[26]	1	√	√	√	√	√	√
4	Innovative funding and finance	[8, 9, 10, 11, 13, 16, 17, 18, 19, 20, 26, 28,30]	13	√	√	√	√	√	√
5	Green bonds	[6, 7, 8, 9, 11, 12, 13, 16, 17, 18, 22, 23, 24, 25, 30, 31]	16	√	√	√	√	√	√
6	Credit institutions	[1, 12, 13, 15]	4	√	√	√	√	√	√
7	CE venture capital	[1, 8, 9, 10, 11, 17, 18, 19, 22, 31]	10	√	√	√	√	√	√
8	Company’s internally generated funds	[1,5,12,17]	4	√	√	√	√	√	√
9	Green loan	[8, 7, 9, 12, 15, 18, 20, 25, 31]	10	√	√	√	√	√	√
10	Green finance	[8, 9, 11,12,13,14,15,16, 22, 24, 29]	12	√	√	√	√	√	√
11	Green climate fund	[8, 16 ,19 ,30]	4	√	√	√	√	√	√
12	Green credits	[8]	1	√	√	√	√	√	√
13	Sustainable/ green banking	[1, 12, 8, 16]	4	√	√	√	√	√	√
14	Sustainable finance	[7, 8, 12, 17, 22]	5	√	√	√	√	√	√
15	Environmental finance	[8]	1	√	√	√	√	√	√
16	Sustainability bonds	[8, 31]	2	√	√	√	√	√	√
B	Quality of financial resources
17	Providing valuable collateral (guarantees) to secure funding for circular infrastructure projects	[1,17]	2	√	√	√	√	√
18	Access to external funds with reasonable interest rate and other cost associated with external funding	[1,17]	2	√	√	√	√	√	√
C	Cost management practices
19	Cost reduction through resource efficiency or minimization of resource consumption	[3, 18, 19, 27, 28]	5	√	√	√	√	√	√
20	Reverse logistics practices	[3, 8]	2		√	√	√	√
21	Waste reduction practices	[3, 18]	2		√	√	√	√
22	Circular procurement financing	[7, 8, 9, 10, 13, 16, 17, 18, 20, 29, 31]	11		√
23	Just in time delivery	[18]	1			√		√
24	Funding circularity at the design phase	[8, 15]	2	√
25	Financial risk assessment	[13]	1	√	√	√	√	√	√
26	Standardization and integration of circular metrics into financial reporting	[1, 3, 6, 7, 8, 10, 11, 13, 16, 18, 27, 29]	12	√		√
D	Government financial support
27	Green tax exemptions	[1, 4, 7, 8, 9, 10, 12, 17, 18, 20, 21]	11	√	√	√
28	Import duties incentives	[1, 4, 8, 9, 10, 12, 17, 24]	8		√
29	Subsidies/incentives	[1, 3, 4, 5, 7, 8, 9, 10, 11, 12, 16, 17, 19, 20, 27]	15		√	√
30	Soft loans	[1, 4, 7, 8, 9, 10, 12]	7	√	√	√
31	Financial policy formulation for circular infrastructure projects	[1, 2, 3, 4, 7, 8, 10, 12, 18, 20, 23, 27]	12	√
32	Start-up financing and grants	[1, 4, 7, 9, 10, 11, 17, 19, 20, 31]	10	√
E	Technology and innovation
33	Investment in CE technology and innovation	[1, 2, 3, 4, 9, 13, 16, 17, 18, 20, 21, 22, 23, 26, 27]	15	√	√	√	√	√	√
34	Green innovation	[1, 2, 5, 9, 11, 14, 15, 18]	8	√
35	Digital finance on green investment	[7]	1	√	√	√	√	√	√
36	Investment in energy efficiency and renewable energy	[1, 12, 13, 16, 17, 26,19]	7	√		√		√
F	Project organizational initiatives
37	Commitment and leadership of contractor and client toward achieving financial performance	[18, 20]	2	√	√	√	√	√	√
38	Adequate financial knowledge and experience of the project team	[2, 18, 27]	3	√	√	√	√	√	√
39	Knowledge and capacity building in life cycle cost management of circular infrastructure projects	[1, 2, 7, 9, 10, 11, 14, 15, 16, 18, 19, 20, 22, 21, 23, 27, 28, 29, 30]	19	√	√	√	√	√	√
40	Awareness creation on cost reduction practices	[2, 7, 9, 18, 21, 22, 27]	7	√		√	√
41	Competitive pressure towards circular infrastructure projects	[18, 20]	2				√
42	Financial quality management	[1, 18, 27]	3	√
43	Market orientation	[18, 28]	2					√
44	Collaborative financing between relevant stakeholders	[2, 6, 8, 9, 10, 11, 12, 13, 16, 18, 22, 24, 25, 27, 28, 31]	17	√	√	√	√	√	√
45	Financial risk-sharing mechanisms	[3, 4, 7, 8, 9, 10, 12, 13, 19, 22, 24, 25, 28, 30]	14	√	√	√	√	√	√
46	Decent employment opportunities	[15, 27]	2	√	√	√	√	√	√

Source(s): Authors’ own work

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