One of Sydney's largest recycling plants has become the latest casualty of a collapse in market prices for plastics and paper products two years after China slapped a ban on foreign waste.
The closure comes three years after the plant received a $5 million grant from the NSW government to help pay for installing equipment that processes mixed plastics. Polytrade also received another $5 million in 2017 for a glass facility in Sydney.Willoughby Council said it "may consider an increase in rates in the future" because the cost of an alternative recycler was more than double the price of Polytrade.
Askgerbil Mattonews Laura_R_chung A clear indication of a dysfunctional economic system. Plastic has immense value and the price should be at least 100 times higher than at present. There are ways to redress this situation
Mattonews Laura_R_chung From article: 'the cost of processing plastics and other materials had soared because buyers wanted much lower rates of contamination in the products.' Improved source separation at initial point of collection is a big part of the answer. But kerbside has challenges.
Mattonews Laura_R_chung We need to focus on ‘sustainability’ and ‘pollution’ rather than ranting over imaginary climate emergency. Fact: CO2 is not a pollutant.
Mattonews Laura_R_chung Why isn’t our Government pledging money to the recycling industry instead of promising 300 million to a dying coal furnace? 🧐
Mattonews Laura_R_chung It may be that there isn't a profit to be made for all recycling however that does not mean it shouldn't happen. Perhaps the lack of environmental degradation should be taken into account when costing the business. Government involvement required. Innovation required.Urgently.
Mattonews Laura_R_chung Wasn’t improving Australia’s recycling one of Scotty from Marketing’s great promises?