Zero-Waste Scotland Unveils £18 Million Circular Economic Fund
In order to help small- and medium-sized businesses explore the circular economy, Zero Waste Scotland recently unveiled a new “zero waste” £18 million fund. Zero Waste Scotland, in conjunction with the Scottish Enterprise and Highlands and Islands Enterprise, will distribute the fund—called the Circular Economy Investment Fund—over the course of three years. The organizations will provide funding to businesses that aim to grow the circular economy in Scotland—this includes developing new sustainable technologies, exploring new circular markets, helping the Scottish infrastructure to become more sustainable, and so on.
Zero Waste Scotland will seek out businesses within specific economic and industrial fields, including energy infrastructure, the bio-economy, and the “built” economy. They will also target industries focusing on reuse, remanufacturing, repair, and reprocessing. Zero Waste Scotland hopes that this fund will help to drive circular business innovation. Iain Gulland, the chief executive of Zero Waste Scotland, noted to Cities Today that small- and medium-sized enterprises (SMEs) are the “bedrock of enterprise in Scotland,” and that by supporting these SMEs as they begin exploring the circular economy, the nation can help to accelerate overall circular economic growth. “[SMEs’] size and structure often makes them ideally placed to innovate and generate new business models. We see SMEs playing a key role in the circular economy, at local and national level,” he said.
Scotland’s push for sustainability highlights the overall significance of the circular economy and zero-waste generation. From companies like Walmart to nations like Scotland, the entire world recognizes the importance of sustainability, protecting the environment, and defending the world’s limited resources. Zero-waste generation is the way of the future, and companies interested in limiting their waste production should consider donating their excess goods or products. Good360 specializes in this particular zero-waste model, and donating excess goods not only limits waste sent to landfills, but it also ensures that charities-in-need receive the much-needed support they crave. Learn more about this strategy here.