Entitled “Leave no Footprint”, the plan is to create 1,000 new jobs in the pursuit of diverting 2.5 million tonnes of waste from landfill according to the public-private sector funded organisation.
” London needs to bury its landfill habit and move decisively towards a resource management economy.“
– Daniel Silverstone, London Remade
London Remade said its plan would see “state-of-the-art recycling infrastructure” developed, which could process both household and business waste.
It could also see value recovered from residual waste in the form of “renewable” fuels.
The organisation, which has already helped establish 2,250,000 tonnes of reprocessing capacity since in its six-year history, said the plan would help with the 4 billion in sustainable waste infrastructure needed in London over the next decade.
By 2020, London is expected to produce 22.6 million tonnes of waste, with around a quarter from municipal sources. The capital recycles just 21% of its household waste on average at present.
London Remade chief executive Daniel Silverstone said: “London needs to bury its landfill habit and move decisively towards a resource management economy with recycling at the very heart of a new generation of reprocessing facilities.
“Our solution, Leave no footprint, will develop state of the art recycling infrastructure capable of reprocessing both municipal and commercial waste; including opportunities for creating renewable fuels from non-recyclable waste,” Mr Silverstone explained.
Investment
London Remade said bringing in investment is now “critical” if London boroughs are to meet their landfill diversion targets and avoid hefty government fines. But Mr Silverstone said banks and financiers are now keen to invest in the waste sector.
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Martin Brown, manager at Corporate Banking at Allied Irish Bank (GB), said: “Waste and recycling infrastructure is an increasingly attractive investment proposition, underpinned by potentially strong cash flows from local authorities and many blue chip companies. We are keen to increase our exposure to this sector, which we believe will revitalise manufacturing in London, create jobs and positively contribute to the economy and most importantly to the environment.”
More details of the London Remade plan will be revealed following the launch, being held this afternoon at the Tate Modern gallery.
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