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Hong Kong unveils USD 130 million recycling fund

Industry News 06:31:38PM Aug 12, 2015 Source:SMM

By  Paul Ploumis 12 Aug 2015  Last updated at  07:09:13 GMT

BEIJING (Scrap Monster): The Honk Kong government has announced setting up of an Advisory Committee to oversee the operation of the USD 130 million recycling fund. The members of the committee appointed by the Secretary for the Environment will advise the government on all matters related with administration and operation of the HK $1 billion fund. Basically, the fund is intended to boost Hong Kong’s recycling rates.

According to reports, Wong Kam-sing, Secretary for the environment has been chosen as the chair of the committee. The committee comprises of experts, academic staff and people with experience in business management and community service, as well as representatives from various business and industry associations. The appointments of the committee members are for a term of three years effective from August 1, 2015 onwards.

As per estimates, municipal solid waste volumes in Hong Kong have surged higher by nearly 80% over the past 30 years. An average Hong Kong citizen produces nearly 1.36 kilogram of waste every day. Honk Kong currently spends approximately USD $52 million every year towards waste collection. The government plans to reduce the per capita disposal rate of municipal solid waste by 2022.

The newly set up recycling fund would be utilized towards effective operation and development of recycling industry. A part of the fund would be used for upgrading existing recycling facilities. Kam-sing noted that the fund would help Hong Kong to reduce landfill disposal substantially.

Hong Kong unveils USD 130 million recycling fund

Industry News 06:31:38PM Aug 12, 2015 Source:SMM

By  Paul Ploumis 12 Aug 2015  Last updated at  07:09:13 GMT

BEIJING (Scrap Monster): The Honk Kong government has announced setting up of an Advisory Committee to oversee the operation of the USD 130 million recycling fund. The members of the committee appointed by the Secretary for the Environment will advise the government on all matters related with administration and operation of the HK $1 billion fund. Basically, the fund is intended to boost Hong Kong’s recycling rates.

According to reports, Wong Kam-sing, Secretary for the environment has been chosen as the chair of the committee. The committee comprises of experts, academic staff and people with experience in business management and community service, as well as representatives from various business and industry associations. The appointments of the committee members are for a term of three years effective from August 1, 2015 onwards.

As per estimates, municipal solid waste volumes in Hong Kong have surged higher by nearly 80% over the past 30 years. An average Hong Kong citizen produces nearly 1.36 kilogram of waste every day. Honk Kong currently spends approximately USD $52 million every year towards waste collection. The government plans to reduce the per capita disposal rate of municipal solid waste by 2022.

The newly set up recycling fund would be utilized towards effective operation and development of recycling industry. A part of the fund would be used for upgrading existing recycling facilities. Kam-sing noted that the fund would help Hong Kong to reduce landfill disposal substantially.