PRINCE

When the Economy Goes Around in Circles Thanks to the Public Sector

The circular economy is not merely an environmental trend for a niche segment of the economy; rather, it is an issue of great economic, political, environmental, and ethical significance—and one that is here to stay. The goal behind it is to create an economy in which less is consumed and wasted. Instead, resources are reduced, reused, and recycled. In other words, it’s a new entrepreneurial approach in which quality and awareness take on paramount importance. The public sector plays a special role in the transition to the circular economy. Public procurement in this area accounts for an impressive 14 percent of GDP—which amounts to approximately 66 billion euros annually in Austria. This represents an incredible lever that can be harnessed if public procurement is conducted in an environmentally conscious and regionally focused manner. The PRINCE project focuses precisely on this lever and, through a consortium of 10 European project partners, aims to support the transition to a circular economy in Central Europe. The SFG, or Styrian Food Hub, will contribute as a project partner, particularly in the area of public procurement of regional food products. This will benefit our Styrian food companies—and, of course, our environment.

The circular economy is moving Central Europe forward

We face the challenge of guiding Central Europe on its path toward becoming a resource-efficient economic region. To make this challenge even more compelling, we must take into account the varying starting points and local needs of European stakeholders. If we succeed, we will achieve ecological transformation and a significant improvement in market competitiveness. At the same time, we will promote regional (eco-)innovations and producers. Tackling this challenge—including within the framework of PRINCE—will therefore more than pay off.

Objectives of the PRINCE Project

PRINCE is a unique initiative for environmentally oriented public procurement and an innovation network for the circular economy. Within the framework of the project, the public sector is encouraged and supported to conduct procurement efficiently with environmental awareness in mind and, consequently, in a way that benefits the region. So-called circular procurement takes into account the entire life cycle of the products and services being procured. The public sector’s central role is leveraged to give targeted and structured preference to environmentally conscious regional companies. In addition to the bidding processes themselves, the project aims to initiate public funding for circular packaging design and the corresponding production. The project also serves to connect business stakeholders in a targeted manner to foster sustainable business models.

Participating Countries

PRINCE is a collaborative project involving ten partners from seven European countries: Austria, Italy, Croatia, Hungary, Slovenia, Poland, and Germany. The consortium brings together expertise from various political and economic sectors. The ten countries contribute not only their technical expertise but also their diverse local experiences. This enables countries to learn from one another and take a major step together toward a competitive AND sustainable Central European economy.

The project is funded by the European Union through the Interreg Central Europe program with a total of 2.09 million euros.