Welsh Circular Economy Fund widens scope
The Waste and Resources Action Programme (WRAP) Cymru has announced that it has ‘widened the scope’ of the £6.5-million Wales Circular Economy Fund to help the Welsh economy become 'more resilient' as it responds to the coronavirus pandemic.
Introduced in April 2019, the Welsh Government established the fund to facilitate the use of recycled materials by manufacturers in Wales, with money going towards investment in the infrastructure and equipment.
WRAP Cymru was appointed to administer the scheme and the organisation claims that over a three-year period the grants already awarded are expected to result in: the use of an extra 10,000 tonnes of recycled materials; prevention of more than 6,200 tonnes of carbon dioxide emissions; turnover growth in excess of £7.3 million and the creation of at least 14 new jobs.
Responding to the ‘significant challenges’ organisations are facing in the light of the pandemic, WRAP has extended the scope for funding. Now, the fund will support organisations seeking to support the preparation of materials for reuse, refurbishment and re-manufacturing activities in Wales. This includes the production of sustainable goods to assist the global fight against Covid-19, such as personal protective equipment (PPE).
Aiming to give ‘more support, more quickly’ to organisations of any size operating in Wales, WRAP has made its application process more ‘agile’ to speed up the process and help the Welsh economy respond dynamically in facing Covid-19.
To be eligible for the capital funding, organisations must seek to increase the use of recycled plastic, paper, card or textiles in existing or new products and/or extend the life of products and materials through preparation for reuse, refurbishment or re-manufacturing activities.
Commenting on the changes to the fund, Marcus Gover, WRAP CEO, said: “The purpose of the Wales Circular Economy Fund is to help build a strong, sustainable manufacturing and remanufacturing sector in Wales. It will support locally manufactured and remanufactured goods made from recycled Welsh raw materials.
“It will support the growth of local repair and refurbishment services to help Welsh people get the maximum value from the products they buy. It will create jobs, help to tackle climate change and make the Welsh economy more resilient.
“Grants awarded to date will result in over £2 million of capital investment. Now we have extended the scope, we are looking forward to applications from more organisations operating in Wales.”
Organisations in Wales are encouraged to visit the WRAP Cymru website to learn more about the Circular Economy Fund.