£6.5 million Circular Economy Fund launches to increase the use of recycled materials

Deputy Minister for Housing and Local Government Hannah Blythyn will launch a new £6.5 million Welsh Government Circular Economy Fund with a visit to leading packaging manufacturer Klӧckner Pentaplast, who specialise in using recycled content in their products and have pledged to maximise the use of sustainable materials.The Welsh Government is to launch a £6.5m fund to support recycling as part of plans to hit its zero waste target by 2050.

The Circular Economy Fund will 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.

Creating a circular economy for plastic waste is a huge opportunity for the economy of Wales as well as benefiting the environment. It will help create and protect jobs in Wales, by making our manufacturing companies more resource efficient and resilient and strengthening local supply chains.

The £6.5 million 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.

Read more at Welsh Government

Posted on: Monday 29th April 2019