The money will be channelled through the LASER – the Lattice Awards for Social and Environmental Regeneration awards reflecting the fact that Transco is owned by the Lattice Group. The LASER awards have been developed with the support of Entrust, the regulator of the Landfill Tax Credit Scheme and applications for awards are “by invitation only” from Entrust’s register of environmental projects.
Under the scheme, Transco will act as a third party funder and will provide the initial 10% funding which will enable environmental groups to obtain money from the Landfill Tax Credit Scheme on a 9:1 basis.
Entrust was criticised earlier this year for funding too many community projects and the award scheme supports the regulator’s need to give more money to recycling-based initiatives.
Stephen Newton, spokesman for Entrust, said: “Transco were looking for best way to spend their money and were keen to support recycling and sustainable waste management projects. It was natural that they approached us as we have a database of sustainable waste management projects. The scheme offers a great opportunity for all and is a win-win-win situation.”
Sadie Marshall, Transco’s social and community affairs manager, said: “The awards have the potential to release a considerable amount of money. Recycling was chosen as the theme of the new scheme because of concerns about pollution and waste management have put it high on the government’s agenda. Recycling schemes are being operated across the country but are fragmented and not overly supported. The LASER awards will aim to encourage better use of existing schemes along with the development an launch of new ones.”
The LASER scheme will replace Grassroots, Transco’s previous environmental award scheme.
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