In a significant stride towards sustainability, the federal Government announced its $15 billion National Reconstruction Fund (NRF) with a focus on renewables and low emissions technology. This includes waste reduction, resource recovery, recycling, and reducing greenhouse gas emissions. The fund signals a resolute commitment to fostering a circular economy and tackling environmental challenges.
Lisa McLean, Managing Director and CEO of Circular Australia commended the government’s leadership in advancing the nation’s circular economy. “The NRF proves the federal government is serious about designing out waste, emissions, and pollution in our economy while simultaneously fostering new industries, skills, and jobs,” stated Ms McLean.
The NRF holds the potential to revolutionize onshore manufacturing and recycling across various sectors, including solar panels, batteries, e-waste, masonry, textiles, plastics, and healthcare waste. These are critical areas accounting for a significant portion of the 20 million tonnes of waste dumped into landfills annually.
Ms McLean emphasized the urgency of addressing emissions associated with wasted food and products, which contribute to half of all emissions. Additionally, these materials contain essential minerals and resources crucial for the nation’s transition to renewable energy.
The NRF focuses on seven key areas, including renewables, low emissions technologies, medical science, transport, agriculture, forestry, fisheries, resources, and defense capabilities. Sustainability, circular economy principles, regional development, and national security are integral considerations in the NRF’s mandate. This strategic investment holds the promise of not only environmental sustainability but also economic growth and job creation. Read more about the reconstruction fund here.