Daily Planet

Wales launches €7.5m circular economy fund

Image: Dave Goodman - Flickr

The Welsh Government has announced a new £6.5m (€7.5m) fund to help the country move towards a circular economy and meet ambitious recycling targets.

Beginning in 2019, the fund will help Wales towards 70 per cent recycling by 2025 and 100 per cent recycling by 2050.

Wales’ Circular Economy Capital Investment Fund will demonstrate to Welsh manufacturing companies the “many and varied benefits” of the Circular Economy model.

Cabinet Secretary for the Environment, Lesley Griffiths said that it will help businesses save money by becoming more resource efficient and resilient – an approach that will deliver waste reductions and cut CO2 emissions.

Wales has the highest rates of recycling in the UK. It is a member of the EU project, Circular Economy for SMEs, which aims to help SMEs overcome the barriers to becoming circular by sharing best practice across the region.