Great news, it has been announced around 8 million pounds of compliance fees will be given to the E-waste recycling industry over the next 3 years. These are from the Waste Electrical and Electronic Directive; they will be used to fund projects which increase recycling and reuse.
A much-needed Investment
Back in 2015, this fund generated just 45 thousand pounds to be used in technical research projects. The 8 million pounds which have been raised will be divided up; 1 million pounds of this is set aside for research and 3 million is for encouraging behavioural change. Finally, 4 million pounds has been segmented for local projects which aim to boost both re-use and recycling.
Due to the growth in this fund, it’s thought that this will have a dramatic impact on the way both the UK WEEE operates and functions. It will also help to change attitudes locally and nationally to recycling electricals in the correct way.
With no urgency to spend the money quickly, the focus will be on ensuring that it has the most impact.
Although recycling of electrical goods is on the rise here in the UK. Globally more than 44 million metric tonnes of e-waste was generated in 2016. Only 20% of this was recorded as being recycled and could have been worth around $55 billion.
E-waste is something that will continue to grow if consumers aren’t aware of both the damage they cause the environment and the money they could make.
With cash to be earnt by recycling properly, it’s a surprise so many gadgets end up in the bin or general waste! If you’d like to see how much yours could be worth visit www.cashinyourgadgets.co.uk