The 2021-2022 Queensland budget has been released, with the states waste sector set to benefit from additional funding and projects.
The budget will build upon the Queensland Government’s investment into the protection of the World Heritage listed Great Barrier Reef. Since 2015 the Queensland Government has invested $400 million into the preservation of the reef.
The commitment includes a $270.1 million investment over 5 years for the reef, as well as $55.1 million to protect and restore the state’s environment.
The state government will also establish a new $500 million Carbon Reduction Investment Fund, with returns from the fund to support the growing carbon market. The fund hopes to support the financial sustainability of the carbon market.
The implementation of the Queensland Waste Management and Resource Recovery Strategy will be supported by a $93.6 million investment over 4 years, backing up existing funding for Queensland to achieve waste and emission targets.
The strategy “provides the strategic framework for Queensland to become a zero-waste society, where waste is avoided, reused and recycled to the greatest possible extent.”
Additionally, $4.3 million will be invested in high priority land acquisitions for the expansion of the protected area land portfolio.
To view the state budget, click here.
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