The Minister for the Environment has announced a new $190 million Recycling Modernisation Fund (RMF) as part of a national strategy to change the way Australia looks at waste.
In a statement, the Minister, Sussan Ley said the fund would generate $600 million of recycling investment and drive a billion-dollar transformation of Australia’s waste and recycling capacity with a view to reaching a national resource recovery target of 80 per cent by 2030.
“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,” Ms Ley said.
“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,” she said.
“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.”
Ms Ley said this was a once in a generation opportunity to remodel waste management, reduce pressure on the environment and create economic opportunity.
“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,” she said.
Assistant Minister for Waste Reduction and Environmental Management, Trevor Evans said the expansion of Australia’s recycling capacity followed close consultation with industry.
