Brussels – The European Commission this morning unveiled a EUR6.1bn ($6.5bn) package to help the transition to a circular economy within the EU.
It also includes a strategy on plastics “addressing issues of recyclability, biodegradability, the presence of hazardous substances in plastics,” the Commission said.
The package sees a common EU target of recycling 65% of municipal waste by 2030, a 10% to landfill maximum for all waste and “concrete measures to promote re-use and stimulate industrial symbiosis.”
This process will be funded through EUR 650m from the European Structural and Investment Funds (ESIF) and EUR5.5bn through structural funds.
EU vice-president Jyrki Katainen said “These proposals give a positive signal to those waiting to invest in the circular economy. Europe is the best place to grow a sustainable environmentally-friendly business. We will remove the barriers that make it difficult for business to optimise their resource use and will boost the internal market for secondary raw materials.”
This includes quality standards for secondary raw materials and moves to promote energy efficiency, durability and recyclability of products, the Commission said.
Currency conversion: XE.com 2 December 2015