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The UK’s waste management industry is urging the government to provide more incentives in order to improve investor confidence, otherwise the country will fail to meet EU Landfill Diversion targets and waste disposal costs will rise to stratrospherical levels.
According to a report published by lobbyists APSRG (Associate Parliamentary Sustainable Resource Group) the UK’s waste industry needs to find £15 billion until 2030 to deal with its waste successfully. It also states that the government needs renewed focus on financing new waste and resource management infrastructure.
To meet 2020 EU Landfill Diversion targets the report estimates that £8 billion of investment alone is required to build up the infrastructure needed to meet such targets.
The report which is entitled Rubbish to Resource also list factors that are causing uncertainties amongst investors preventing them from investing on new waste facilities.
Investors want a clear Waste Policy including regulatory risks, straight forward incentives schemes and changes in government policy in relation to the Renewables Obligation (RO), the Feed-in Tariff (FIT) and the Renewable Heat Incentive (RHI).
The Rubbish to Resource report also provides recommendations for the Green Investment Bank (GIB). The Chartered Institution of Wastes Management (CIWM), one of the report’s sponsors, suggests that the GIB must be able to guarantee loans to remove risk from the development of commercial and industrial waste capacity.
It also recommends that the government analyse each project thoroughly so it only finances the most commercially viable projects.
Finally the reports goes on to say that in order to deliver better value for money, local authorities need to provide better resources for waste management companies and gather resources to address domestic and C&I waste streams simultaneously.
About the Associate Parliamentary Sustainable Resource Group
The APSRG is the leading forum informing the debate between parliamentarians, business leaders and the sustainable resource community.
The Rubbish to Resource report can be downloaded here and for more information about the APSRG visit their website.
For waste management and recycling services in Milton Keynes and surrounding areas please do not hesitate to contact MT Waste.
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