Tyre Stewardship Australia (TSA) marks a decade of operation with the announcement of over $10 million in investments to expand Australia’s circular tyre economy.
This milestone highlights both the progress made and the ongoing potential for growth in tyre recycling.
Resilience in Challenging Times
The new financial year underscores the resilience of the tyre recycling sector, demonstrating its ability to thrive even in challenging economic conditions.
This investment presents exciting opportunities for investors, recyclers, and manufacturers to further develop the circular economy.
A Decade of Creating Pathways for Sustainability
Since its establishment, TSA has prioritized creating practical solutions for government, businesses, and consumers to participate in sustainable tyre management.
CEO Lina Goodman emphasizes the collaborative effort that has driven innovation in the sector.
Growing Participation from Tyre and Auto Brands
With 16 tyre and auto brands currently contributing to the scheme, TSA has seen a positive increase in support. Notable long-term contributors like Bridgestone and Michelin are joined by newer participants such as Mercedes Benz and Porsche.
Funding Research and Market Development
These contributions have enabled TSA to allocate significant resources to research and development, focusing on end-of-life tyre solutions and the expansion of markets for tyre-derived materials.
The organization dedicates approximately 40% of its annual budget to strengthen the recycling sector.
Addressing Free Riders and Fostering Collaboration
TSA stresses the importance of regulatory measures to ensure all tyre importers and auto brands participate in the stewardship scheme, eliminating free riders and maximizing the impact of the investments.
The current participation rate of 57% for tyre importers and 3% for auto brands highlights the potential for a fully inclusive scheme.
Challenges and Opportunities in the Next Decade
Goodman acknowledges the difficulties in maintaining sustainability, particularly with rising living costs, but emphasizes the crucial decisions that must be made to ensure Australia takes ownership of its waste and preserves future choices.
She advocates for government procurement policies prioritizing long-term sustainability over short-term savings.
Strengthening Australia’s Circular Economy
Such policies have the potential to boost local manufacturing, create employment opportunities, and reduce environmental impact.
The development of higher-value end markets for tyre-derived materials will attract investors and further strengthen Australia’s circular economy businesses.
Looking Ahead
As TSA enters its second decade, the organization remains dedicated to building a robust circular tyre economy. Through continued innovation, collaboration, and necessary regulatory support, Australia can achieve significant progress in tyre recycling and sustainability.