Wales targets zero waste economy by 2050
The Welsh Government has launched a new fund to make Wales a global leader in recycling plastics.
The £6.5m Circular Economy Fund aims to help Wales reach the milestones of 70% recycling by 2025 and 100% recycling by 2050, as set out in the Welsh Government’s waste strategy Towards Zero Waste.
A circular economy keeps resources in use as long as possible by recovering and regenerating materials at the end of their life instead of disposing of them.
The £6.5m fund will offer grants to businesses of any size seeking capital investment funding to increase their use of recycled materials in manufactured products, components or packaging. WRAP Cymru will administer the fund on behalf of the Welsh Government.
Deputy Minister for Housing and Local Government Hannah Blythyn said: “Wales is on a journey towards becoming a circular economy, which means making more of the products we consume and recycling as much waste as possible.
“Our fund will help to cover some of the costs of investing in new equipment and infrastructure, increasing the use of recycled materials in Welsh manufacturing.
"We know this has the potential to bring significant cost savings as well as helping businesses to reduce their carbon footprint. Increased use of recycled material provides economic opportunities. It also helps create and protect jobs by making Welsh manufacturing companies more resource efficient and resilient in terms of the security of supply of raw materials.
“I want to encourage manufacturers across Wales to take a look at the WRAP Cymru website on the Circular Economy Fund and consider the opportunities we can offer them.
“In Wales we recycle more than anywhere else in the UK and we are within touching distance of being the world’s top recycling nation. I want us to go even further towards a truly circular economy.”