The Welsh Government has launched a £6.5m Circular Economy Fund, intended to help Wales reach 70% recycling by 2025 and 100% by 2050.
It will be used for grants to businesses seeking capital investment to increase their use of recycled materials in manufactured products, components or packaging. WRAP Cymru will administer the fund.
Deputy minister for housing and local government Hannah Blythyn (pictured) said: “Wales is on a journey towards becoming a circular economy, which means making more of the products we consume and recycling as much waste as possible.
“Our fund will help to cover some of the costs of investing in new equipment and infrastructure, increasing the use of recycled materials in Welsh manufacturing. We know this has the potential to bring significant cost savings as well as helping businesses to reduce their carbon footprint.”
She said increased use of recycled materials would help to create and protect jobs by making Welsh manufacturing companies more resource efficient and resilient in their security of the supply of raw materials.