Circular Materials Fund to Boost NSW Plastic Recycling Technology
Plastic Recycling | 2022-09-23 12:48:05
As per rough estimates, NSW produces approximately 800,000 tonnes of plastic waste every year, out of which only around 10% is recycled.
By Paul Ploumis
SEATTLE (Scrap Monster): The newly announced $9 million funding support will provide a helping hand for eligible businesses in NSW to recycle and reuse more plastic when making new products. The allocation, as part of the Circular Materials Fund, will boost the circular economy for plastics in the state.
According to James Griffin, Minister for the Environment, the funding will help businesses in transforming their operations by adopting latest plastic recycling technologies. This in turn will help NSW to recycle more plastic and turn them into new products. In other words, it will reduce the amount of plastic waste ending up in landfills and turn more volumes of these waste into useful and valuable resources.
The funding will offer support to small and medium businesses that may otherwise be challenged by initial capital costs involved in creating circularity in their business. The program is part of $356 million Waste and Sustainable Materials Strategy 2041 and the NSW Plastics Action Plan.
As per rough estimates, NSW produces approximately 800,000 tonnes of plastic waste every year, out of which only around 10% is recycled. The NSW government targets to triple the plastic recycling rate by 2030.
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