The Morrison government is providing $190 million to set up a new fund to generate investment in recycling.
The Recycling Modernisation Fund aims at generating $600 million in innovative recycling investment.
Environment Minister Sussan Ley also expects more than 10,000 jobs will be created as over 10 million tonnes of waste is diverted from landfill to make useful products.
“As we cease shipping our waste overseas, the waste and recycling transformation will reshape our domestic waste industry, driving job creation and putting valuable materials back into the economy,” Minister Ley said in a statement on Monday.
She said Australians need to have faith that the items they place in their kerbside recycling bins will be re-used in roads, carpet, building materials and a range of other essential items.
“At the same time, we need to stop throwing away tonnes of electronic waste and batteries each year and develop new ways to recycle valuable resources,” she said.
She said Australia’s waste and recycling transformation is being further strengthened by an additional $35 million to implement the National Waste Policy Action Plan, which sets the direction for waste management and recycling in Australia until 2030.
There is also $24.6 million to improve national waste data so it can measure recycling outcomes and track progress against our national waste targets.
“This is a once in a generation opportunity to remodel waste management, reduce pressure on our environment and create economic opportunity,” Ms Ley said.