17 March 2017 | Jamie Harris
A £6.5 million fund has been granted to support the Welsh Assembly’s commitment to move towards a circular economy.
The Circular Economy Capital Investment Fund, to start from 2019, is said to help increase reuse and recycling opportunities across Wales, with particular support for small and medium-sized enterprises.
The £6.5 million injection builds on a £14 million Accelerating Reprocessing Infrastructure Development (ARID) project, which helped businesses reduce, reuse or recycle 399,000 tonnes of waste, avoiding 79.5 KT in carbon emissions.
The Welsh Government’s waste strategy, Towards Zero Waste, has set a target of 70 per cent recycling by 2025 and 100 per cent recycling by 2050.
Cabinet Secretary for Environment and Rural Affairs, Lesley Griffiths, said: “The £6.5 million fund I am announcing underlines our commitment to moving towards a circular economy. This will help businesses save money by becoming more resource efficient and resilient, an approach that will deliver numerous environmental benefits including less waste and reduced CO2 emissions.
“We are proud if Wales were an EU member state, we would be fourth in terms of the amount we recycle. We will continue to advocate the widespread adoption of a circular economy among businesses and our European partners as we aim towards the ambitious targets we have set ourselves in Towards Zero Waste.”
• Also this week, the London Waste and Recycling Board (LWARB), a partnership between the Mayor of London and London’s boroughs, approved a £50 million business plan across the next three years, which it says will contribute to the development of the circular economy in the capital.
The Mayor of London has challenged the city to achieve a 65 per cent recycling rate by 2030 and to put London on track to be a zero carbon city by 2050.
The business plan has set a budget of £50 million across the next three years.