Circular Australia welcomed the launch of the federal government’s $15 billion National Reconstruction Fund on 30 November 2023, noting its strong focus on sustainability and the circular economy. CEO Lisa McLean highlighted how the initiative will help design out waste, emissions, and pollution while creating jobs and building local industries linked to on-shore recycling and manufacturing of solar panels, batteries, e-waste, textiles, plastics, masonry, and healthcare waste. She stressed that addressing these material streams is critical given the 20 million tonnes of waste entering landfill each year.
The fund will invest across seven sectors: renewables and low-emission technologies; medical science; transport; value-add in agriculture, forestry, and fisheries; value-add in resources; defence capabilities; and enabling technologies. Its framework requires consideration of circular economy principles, regional development, and national security. Circular Australia emphasised that without circular design, even renewable systems generate waste and emissions, underscoring the importance of scaling domestic circular economy capacity.
Key takeaways:
- $15 billion National Reconstruction Fund launched 30 November 2023
- Strong focus on waste reduction, recycling, and circular economy principles
- Seven priority sectors including renewables, agriculture, and medical science
- Commitment to jobs, skills, and on-shore manufacturing tied to sustainability
