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The Recycling Fund set up by the Environmental Protection Department was officially launched today (October 6) and is open for applications. The Recycling Fund promotes the recovery and recycling of waste into useful resources and products by facilitating the upgrading of operational capabilities and efficiency in the recycling industry to support its sustainable development.
Officiating at the launch ceremony, the Secretary for the Environment, Mr Wong Kam-sing, said that promoting the development of the local recycling industry is vital to the Government's waste management strategy to reduce waste and conserve resources. The five-year Recycling Fund, amounting to $1 billion, has been established to assist the recycling trade in creating business opportunities and enhancing its competitiveness in order to boost its healthy and sustainable development.
The Recycling Fund comprises two parts, namely the Enterprise Support Programme and the Industry Support Programme. The Enterprise Support Programme provides project-based matching funds for individual enterprises to upgrade and expand their waste recycling operations, such as enhancing collection and separation of recyclables, adopting value-added recycling processes and promoting the viability and market competitiveness of recycled products through commercialisation and other marketing efforts. The grant is set at 50 per cent of approved expenditure items and each project period will be set at a maximum of two years. Funding support will be granted to each enterprise for up to three approved projects and the cumulative funding ceiling is $5 million per enterprise.
As a large majority of local recyclers are small and medium-sized enterprises (SMEs), applications for subsidies for small-scale standard projects, like manpower training and occupational safety, can be made by SMEs under the Enterprise Support Programme through streamlined procedures and document submission. The grant for each application is capped at $150,000 or 50 per cent of the approved expenditure, whichever is less.
While the Enterprise Support Programme provides funding for individual enterprises, the Industry Support Programme has been established for non-profit distributing organisations such as professional bodies, trade and industry organisations, research institutes and other industry support organisations to undertake non-profit-making projects to enhance the overall capability and productivity of the local recycling industry such as programmes that can enhance the technical aspects of recycling practitioners or develop certification schemes for recycling operations. The grant may cover up to 100 per cent of approved expenditure items and the amount of funding will be capped at $15 million per project.
The closing date for the first batch of applications is November 30 this year. It is expected that the first batch of approved grants will be released from March next year.
Mr Wong expressed his heartfelt thanks to members of the Advisory Committee on Recycling Fund and the trade for their valuable advice and feedback on the management and operation of the Fund. He said he hoped that the Fund could enhance the overall capability, capacity, efficiency and skills of the local recycling industry and facilitate its sustainable development by providing more market information. He said that the Fund could also help raise both the quantity and quality of recyclables and develop markets for recycled products, thus helping to reduce the quantity of waste disposed of at landfills.
The Advisory Committee, which was established on August 1 this year to facilitate the operation of the Fund, comprises experts, academics and people with experience in business management and community service, as well as representatives from various business and industry associations.
Also officiating at the launch ceremony today were the Chairperson of the Advisory Committee, Mr Jimmy Kwok; the Chairman of the Legislative Council (LegCo) Panel on Environmental Affairs (EA Panel), Mr Chan Hak-kan; and the Chairman of the Hong Kong Productivity Council, Mr Stanley Lau. The ceremony was also joined by members of the LegCo EA Panel and the Advisory Committee, representatives of various government departments, and members of local recycling trade associations and other relevant organisations.
The Hong Kong Productivity Council serves as the implementation partner as well as the Secretariat for the Recycling Fund. Further information about the Recycling Fund is available at its website: www.recyclingfund.hk.
Ends/Tuesday, October 6, 2015
Issued at HKT 16:56
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