Vik Bansal Explains Australia Waste Sustainability Efforts
Vik Bansal is one of the world’s most notable business executives with decades of experience in business leadership. Currently, he is serving as the CEO of Cleanaway, Australia’s leading waste management company. This accomplished CEO did an interview not so long ago where he explained the country’s waste sustainability efforts.
The establishment of the $134 million Recycling Modernization Fund
The Cleanaway CEO revealed that the waste management industry in Australia has been lagging in adopting the latest technology to meet emerging recycling needs, as is the case with other countries. This situation will be changing soon thanks to the establishment of the Recycling Modernization Fund. The finances in the fund will be used to give grants to waste management companies in the country to enable them to modernize their facilities, equipment, and operations while increasing capacity. Vik Bansal mentioned that this would likely generate a total of $600 million of investment in the industry. The result will be an additional 10 million tonnes of waste being kept off landfills and 10,000 more jobs being created.
A closed-loop approach
This accomplished Cleanaway executive mentioned that besides the fund, the Australian government is also pursuing a closed-loop approach to waste management. This means that the country’s citizens also have a role to play in making the country’s most waste sustainable and not just the waste management company. Soon, the government will be launching a public education drive on proper waste recycling practices to curb recyclable waste contamination.
About Vik Bansal
Bansal joined Cleanaway in 2015 and has become of of the company’s most prosperous CEOs. Before moving to Australia, he was the President and COO of the $3.3 billion global engineering and manufacturing firm Valmont Industries, based in Nebraska, USA. Vik holds an Electrical Engineering degree with Honors and an MBA. He also graduated from INSEAD under its Advanced Management Program.