Circular Economy
Australia is committed to transitioning to a circular economy, with a target to achieve an 80 percent resource recovery from all waste streams by 2030. A circular economy is a system where resources are kept in use for as long as possible and waste is minimized or eliminated. This is achieved by designing products and materials to be durable, reusable, recyclable, and compostable.
There are a number of initiatives underway in Australia to support the transition to a circular economy. These include:
-
The Australian Circular Economy Hub: The ACE Hub is a national network that supports collaboration and knowledge-sharing on the circular economy.
-
The National Waste Policy: The National Waste Policy sets out a framework for reducing waste and improving resource recovery across Australia.
-
The National Product Stewardship Investment Fund: The NPSIF provides funding to support the development and implementation of product stewardship schemes.
​
The transition to a circular economy will require a concerted effort from all stakeholders, including government, business, and the community. However, the benefits of a circular economy are significant, and Australia is well-positioned to lead the way in this transition