Australian Recycling Investment Fund
In December last year, the Clean Energy Finance Corporation (CEFC) has welcomed the creation of the 100 million Australian Dollar fund. It “will encourage increased investment in clean energy technologies which support waste recycling, leading to lower landfill related emissions,” the press release said.
Its creation “is reflected in the Australian Government Clean Energy Finance Corporation Investment Mandate Direction 2019”. The mandate would direct the CEFC to make available up to 100 Million Dollars to support recycling or recycled content projects using clean energy technologies, with a particular focus on waste plastics, paper, glass and tires. The “new fund will align with the circular economy principles established in the National Waste Policy. It will also support the agreement of the Council of Australian Governments to ban the export of waste plastic, paper, glass and tires while building Australia’s capacity to generate high value recycled commodities and associated demand.”
The Australian Recycling Investment Fund will draw on existing CEFC finance. Projects seeking this type of financing are required to concentrate on renewable energy, energy efficiency and low emissions technologies and to contribute to emissions reduction.
Furthermore, such projects have to be commercial, “reflecting the CEFC’s requirement to deliver a positive return for taxpayers across the portfolio”. In addition to investments through the Australian Recycling Investment Fund, the CEFC would continue to invest in large-scale energy-from-waste projects.
(GR12020, Page 9, Photo: zibik / Pixabay)
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