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 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.
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. Klӧckner Pentaplast are an example of how recycled material can be used to create a successful product, while benefitting our environment and stimulating demand for recycled material.
“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.”
Neil Hancock from Klӧckner Pentaplast said:
“As a sustainably driven manufacturer of plastic packaging for fresh food we encourage collaboration at every opportunity. As outlined in our Positive Plastics Pledge, we committed to help increase recycling and use more recycled materials in our packaging to achieve a circular economy, while protecting food, keeping it safe and fresher for longer.
“We partner with our customers, retailers, suppliers, recyclers and international, national and local governments to improve the recycling system and to help engage citizens and local communities in responsible disposal of plastic waste, which in fact is a valuable raw material for new products.”