Australia has launched a A$ 100 million (EUR 61 million) fund to help boost the country’s recycling rates and encourage innovation to keep recyclable materials out of landfill.
The Australian Recycling Investment Fund is part of a A$ 167 million government plan to reduce plastic pollution and cut food waste in half by 2030, according to the Australian Finance Ministry. The government-established Clean Energy Finance Corporation (CEFC) will manage the fund.
Ministers say the it will also further the government’s commitment to banning the export of scrap such as plastic, paper, glass, and tyres while building Australia’s domestic recycling capacity.
Technology incentives
The investment will support waste and recycling technologies while also attracting buy-in from the private sector and other financing partners. The CEFC is seeking proposals for commercial projects to address Australia’s recycling and waste challenges.
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