Material Focus receives £2m in Covid loan repayments
Material Focus has announced that it has received full repayment of nearly £2 million of three year interest-free loans it gave to WEEE recyclers during the pandemic.
The not-for-profit company, which is funded via the WEEE compliance fee, gave loans to 12 commercial electrical waste recycling companies to help them through the pandemic.
Scott Butler, executive director at Material Focus, said: “The prompt repayment of these loans is a testament to the resilience and adaptability of the electrical waste treatment facilities, which persevered despite the many challenges presented by the Covid pandemic. We are delighted that the loans helped these facilities to continue operating.”
In addition to the interest-free loans, Material Focus also allocated grants totalling nearly £500,000 to 34 charitable organizations dedicated to promoting the reuse of electrical goods. These grants, facilitated by the Reuse Network, played a vital role in enabling these charities to meet the growing demand for refurbished household appliances, especially among individuals impacted by Covid-19, self-isolation, and lockdown measures.
Renewi releases quarterly results
Renewi has reported that its earnings before interest and tax have fallen in the second quarter of the 2023 calendar year (April-June), due to a decline in recyclate prices from their peak in 2022.
The announcement came in a trading update today (13 July), where the company added that recyclate prices however “have largely stabilised since September 2022, at levels slightly above historical averages”.
The report also shows that in the first quarter, core net debt rose by €18m to reach €388m due to investment in sites in the Benelux region.
These growth initiatives, which focus on converting organics to biofuels, producing high-quality plastics from waste electrical goods, and complying with advanced sorting legislation, are performing well in Amsterdam, Waalwijk, and Ghent respectively.
Looking ahead, the Group anticipates meeting market expectations for full-year results and maintains confidence in its growth prospects in the medium term. Legislative measures promoting the transition to circular economies are seen as favourable opportunities. To provide further insight into the Group’s strategy for enhancing top-line growth, profitability, and shareholder value, a capital markets event is scheduled for October 4, 2023.
WRA supports plans to ‘eliminate biodegradable waste to landfill’
The Wood Recyclers’ Association (WRA) has expressed its support for the government’s plans to implement policies that would lead to the near elimination of biodegradable waste disposal in landfills by 2028.
In its response to a call for evidence issued by the Department for Environment, Food and Rural Affairs, which closes tomorrow (July 14), the Association said that it supported any move to prevent waste wood ending up in landfill and the associated environmental impacts.
Julia Turner, executive director of the WRA, said: “While very little waste wood is currently being sent to landfill, we welcome this call for evidence aimed at eliminating it almost entirely. Waste wood is a valuable resource and we have established markets for all 4.5 million tonnes of waste wood which arise in the UK each year.
“Diverting this material from landfill prevents harmful greenhouse gas emissions and can contribute towards the UK’s environmental and net zero goals. We would like to understand more about the mechanisms being considered and look forward to finding our more detail about what impact any proposed policies will have.”
The WRA expressed its desire to learn more about the specific mechanisms being considered and “eagerly anticipates” further details regarding the potential impact of proposed policies.
EuRIC has expressed its support for ESPR
The European Recycling Industries’ Confederation (EuRIC) has expressed its support for the adoption of the “Ecodesign for Sustainable Products Regulation” by the European Parliament.
EuRIC highlights that despite the European economy’s current reliance on recycled materials accounting for only approximately 12% of material resources, there is considerable scope for enhancement by implementing ecodesign criteria.
The confederation emphasises the importance of incorporating sustainable practices throughout the product life cycle to foster a more circular economy.
Emmanuel Katrakis, secretary general of EuRIC said “The ESPR will drive proper design that will not only allow for products to be easily repaired and reused, but it will also facilitate disassembly and recycling at the end of life. Ultimately, it shall boost the use of recycled materials back into products through ambitious recycled content targets that are essential to drive ecodesign and boost circular value chains’’.
Mr Katrakis continued: “We fully support the ban on the destruction of unsold goods and the emphasis placed on following the waste hierarchy. However, we strongly believe that equating recycling with destruction is conceptually wrong.”
Subscribe for free