Hong Kong establishes recycling fund

The Hong Kong Environment Bureau says it has “officially launched” a Recycling Fund it has set up and that the fund is open for applications.

The five-year Recycling Fund of HK$1 billion ($129 million) “has been established to assist the recycling trade in creating business opportunities and enhancing its competitiveness in order to boost its healthy and sustainable development,” according to a news release issued by the bureau.

The Recycling Fund has two components. The first is an Enterprise Support Programme designed to provide project-based matching funds for private sector companies to upgrade and expand their recycling operations, “such as enhancing collection and separation of recyclables, adopting value-added recycling processes and promoting the viability and market competitiveness of recycled products through commercialisation and other marketing efforts,” according to the Environment Bureau.

The other, the Industry Support Programme, “has been established for non-profit distributing organisations such as professional bodies, trade and industry organisations [and] research institutes [to] enhance the overall capability and productivity of the local recycling industry [by funding] programmes that can enhance the technical aspects of recycling practitioners or develop certification schemes for recycling operations.”