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Cultural and economic geography, Urban studies (Planning and development)
Cultural heritage adaptive reuse investment strategies involve long-term, sometimes perpetual, investment horizons, which necessitate the integration of sustainable funding mechanisms. In order to achieve participatory circular human prosperity, the sustainable finance movement must re-evaluate investment leverage approaches including value creation models, the design of hybrid financial instruments, analytical decision-making frameworks,collaborative social enterprise structures, impact performance metrics and evolving mindsets.
In the context of this overview of financial and non-financial instruments, cultural heritage adaptive reuse activities include:
• Adaptive reuse of cultural built heritage structures
• Energy retrofit of cultural built heritage structures
• Protection and management of natural eco-systems;
• Socio-cultural community enterprise activities.
Cultural heritage adaptive reuse activities embody circular economy dimensions, that
engender social, cultural, environmental and economic regeneration, within the global value chain. Consideration of the financial landscape, with regard to capital investment leverage is as much about understanding the motivations of social enterprise stakeholders (including local communities) to engage with the capital markets, as about innovations in financial instruments to safeguard cultural heritage values.
Pickerill, T. (2021) Overview of Hybrid Financial Instruments and Investment Leverage Enablers for Cultural heritage Adaptive Reuse, CLIC Deliverable 4.1, https://www.clicproject.eu/wp-content/uploads/2021/06/D4.1-Overview-of-Hybrid-Financial-Instruments-and-Investment-Leverage-Enablers-for-Cultural-Heritage-Adaptive-Reuse.pdf