February 23, 2024

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New South Wales Invests in Plastic Recycling Tech

More plastic will be recycled and turned into new products in NSW as a result of AU$9 million in funding aimed at supporting businesses to transform their operations and access the latest plastic recycling technology. The Minister for the Environment stated that the new Circular Plastics Programme, part of the Circular Materials Fund, will focus on boosting the circular economy for plastics in NSW.

He noted that the programme is a game changer for the State as it will result in the reduction of the amount of plastic going to landfill and turning it into a valuable resource instead. Currently, NSW produces about 800,000 tonnes of plastic waste every year, and about 10% is recycled. The aim is to grow this figure and see plastic being repurposed and reused as many times as possible, rather than ending up in landfill or the environment.

Through this AU$9 million programme, the NSW Government is providing eligible businesses with the support they need to recycle and reuse more plastic when making new products. Businesses and the government are working together to create a cleaner future, and generate new market demand and value for recycled plastic.

The Circular Plastics Programme is part of the NSW Government’s target to triple the plastics recycling rate by 2030 and will be delivered by the NSW Environment Protection Authority. The matched funding will support small and medium businesses that may otherwise be challenged by initial capital costs involved in creating circularity in their business. The programme is part of the NSW Government’s AU$356 million Waste and Sustainable Materials Strategy 2041 and the NSW Plastics Action Plan.

The Circular Plastics Programme provides new grant funding opportunities under the AU$10 million Circular Materials Fund (CMF). The CMF was created to support businesses in the transition to better plastic products and increase the recycling rate of plastics in NSW. This transition is a key action of the Waste and Sustainable Materials Strategy 2041 and the NSW Plastics Action Plan. The objectives of the CMF are to:

  • reduce the amount of virgin plastic used
  • reduce the amount of hard-to-recycle plastics used
  • increase the amount of recycled plastic in products
  • catalyse partnerships between producers, end users and the resource recovery sector.

Recent research found that the global waste recycling services market size to be valued at US$81.3 billion by 2028 and is expected to grow at a compound annual growth rate (CAGR) of 5.2% during the forecast period. The rising consumer awareness pertaining to the benefits of garbage recycling is anticipated to have a positive impact on the market growth over the forecast period.

Throughout the COVID-19 pandemic, impositions of lockdown resulted in a new type of waste known as pandemic waste, which includes gloves, masks, and respirators along with their packaging, which increased the waste generated due to the disruptions in the waste collection activities.

Rising concerns regarding waste management, coupled with increasing challenges regarding waste disposal, are expected to drive the demand for waste recycling services over the forecast period. The adoption of rigorous laws has accelerated research and development initiatives in waste recycling, which is expected to promote market growth over the forecast period.

The growing awareness about effective waste disposal for the preservation of animal and human health has resulted in the development of numerous disposal methods and procedures. The presence of high amounts of hazardous chemicals in the trash, such as metals and salts, has compelled the waste generating companies to dispose of or recycle the waste in a timely way. Urban population growth and increased disposable incomes are predicted to drive the domestic housing sector across the world.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

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CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

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Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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