Investment of £8 billion is needed in waste infrastructure to avoid EU fines, according to a new report from the Associate Parliamentary Sustainable Resource Group (APSRG).
By 2030, this will rise to £15 billion, but due to spending cuts, 70 per cent of this funding will need to come from the private sector.
The report states that companies are being deterred from investing in new projects, not only from Government spending cuts, but also from a decline in bank lending and the inherent risk of waste infrastructure projects.
It calls for a central waste committee to be formed that would guarantee investors more stable waste policy. It also says that funding structures should be developed to strengthen links between waste management companies and real estate investors.
Local authorities should also be prepared to take more risk, according to the report, while the Green Investment Bank could offer guarantees for commercial and industrial waste projects to give investors more certainty.
