The Morrison Government will commit $190 million to a new Recycling Modernisation Fund (RMF) that will generate $600 million of recycling investment and drive a billion-dollar transformation of Australia’s waste and recycling capacity.
Announced today by The Hon Sussan Ley MP, Minister for the Environment, and The Hon Trevor Evans MP, Assistant Minister for Waste Reduction and Environmental Management, the fund will help create more than 10,000 jobs with over 10 million tonnes of waste diverted from landfill.
The RMF will support innovative investment in new infrastructure to sort, process and remanufacture materials such as mixed plastic, paper, tyres and glass, with Commonwealth funding contingent on co-funding from industry, states and territories.
Australia’s waste and recycling transformation is being further strengthened by an additional:
> $35 million to implement Commonwealth commitments under Australia’s National Waste Policy Action Plan, which sets the direction for waste management and recycling in Australia until 2030.
> $24.6 million on Commonwealth commitments to improve our national waste data so it can measure recycling outcomes and track progress against our national waste targets.
> The introduction of new Commonwealth waste legislation to formally enact the Government’s waste export ban and encourage companies to take greater responsibility for the waste they generate, from product design through to recycling, remanufacture or disposal (Product Stewardship).
The moves are part of a national strategy to change the way Australia looks at waste, grow our economy, protect our environment and reach a national resource recovery target of 80% by 2030.
“As we cease shipping our waste overseas, the waste and recycling transformation will reshape our domestic waste industry, driving job creation and putting valuable materials back into the economy,” Minister for the Environment Sussan Ley said today.
“At the same time, we need to stop throwing away tonnes of electronic waste and batteries each year and develop new ways to recycle valuable resources.
“As we pursue National Waste Policy Action Plan targets, we need manufacturers and industry to take a genuine stewardship role that helps create a sustainable circular economy.
Assistant Minister for Waste Reduction and Environmental Management, Trevor Evans, said that the unparalleled expansion of Australia’s recycling capacity followed close consultation with industry.
“Our targeted investment will grow Australia’s circular economy, create more jobs and build a stronger onshore recycling industry,” Assistant Minister Evans said.
“Our targeted investment will grow Australia’s circular economy, create more jobs and build a stronger onshore recycling industry.
The full media release can be viewed here.
If you are interested in the announcements or need assistance in assessing the opportunhities, please contact the Equilibrium team on BH (03) 9372 5356.