The Federal Government has released the final report for the fourth independent review of the Product Stewardship (Oil) Act 2000.
The scheme was introduced in 2001 to increase the amount of used oil recycled in Australia. Since then, the amount of oil that Australia collects and recycles has risen from none to over 320 megalitres of base lubricating oil every year. That’s more than half the oil sold in Australia each year.
Minister for the Environment, Sussan Ley said that the fourth review of the scheme found that it is continuing to satisfy its objectives.
“Each year this vital scheme results in approximately a quarter of a billion litres of waste oil being recycled. In addition, it has ensured Australia has an effective and mature oil recycling industry employing more than 600 Australians and supporting thousands of contractors,” Ley said.
“Key among the review’s findings are 3 recommendations to ensure the scheme remains cost effective and financially sustainable, as well as ensuring that Australians can access information on its outcomes.”
The schemes main objectives include the development of a product stewardship arrangement for used oils, ensure environmentally sustainable management, refining and reuse of used oil and support economic recycling options for used oil.
As a result of the COVID-19 pandemic last year, the Federal Government increased benefit payments to oil recyclers under the Product Stewardship for Oil from 50c/L to 62c/L. This increase applied from 1 July 2020 to 31 December 2020.
This extra funding aimed to secure jobs within the industry, as well as strengthen protections for the environment.