CEFC announces push to lift resource recovery
The Clean Energy Finance Corporation (CEFC) and recycling company Visy have announced an ambitious partnership to significantly increase waste recycling and resource recovery.
Announced in part due to significant changes in the global recycling market, the plan will see Visy invest $30 million of CEFC funding over the next four years across a range of projects, including energy efficient, renewable and low emissions technologies.
The finance is part of a pipeline of potential projects to increase Visy’s manufacturing capacity to recycle waste materials by 10 per cent, as well as improve the overall energy efficiency and renewable energy use of its large-scale manufacturing operations.
CEFC CEO Ian Learmonth said: “Visy is an Australian and global leader in recycling and the use of energy efficient and renewable energy technologies. We are proud to work with the company to respond to the urgent waste crisis we face.
“As a community, we need to reduce our overall waste as well as invest in more sustainable management of remaining waste. This includes extracting energy from non-recyclable waste to replace fossil fuels, as well as increasing our ability to recycle paper and packaging waste onshore.
“As a major Australian manufacturer, Visy is also leading the way in investing in energy efficient equipment and technologies to help power its 24-hour operations. We see this as a model for other manufacturers grappling with high energy prices and commend Visy on its leadership.”
Visy Chairman Anthony Pratt said: “Visy has pledged to invest $2 billion in Australian manufacturing to create jobs, increase efficiencies and boost sustainability. We are pleased to partner with the CEFC to help us make good on a part of that pledge.”
Visy currently recycles 1.2 million tonnes of paper and cardboard each year. With this new $30 million investment program, it expects to increase capacity by 10 per cent.