The new financial year marks a significant milestone for Tyre Stewardship Australia (TSA) as it celebrates a decade of operation and announces over $10 million in investments aimed at expanding Australia’s circular tyre economy.
This initiative not only presents new opportunities for investors, recyclers, and manufacturers but also highlights the resilience of the tyre recycling sector amid challenging economic conditions.
Since its inception, TSA has focused on creating practical pathways for government, businesses, and consumers to engage in sustainable tyre management.
CEO Lina Goodman emphasised the importance of collective effort, stating: “We’re seeing more innovation than ever before, and it’s all down to the stamina, staying power and will to do the right thing of those who have invested dollars, time and energy into building Australia’s circular tyre economy.”
Currently, 16 tyre and auto brands are actively contributing to this initiative, including long-time supporters like Bridgestone and Michelin, along with newer participants such as Mercedes Benz and Porsche.
These contributions have enabled TSA to inject substantial funds into developing markets for tyre-derived materials and conducting essential research on end-of-life tyre solutions.
TSA allocates approximately 40 per cent of its annual budget towards bolstering the recycling sector.
This funding is directed at stimulating and expanding markets for tyre-derived materials while fostering collaboration across various industry sectors and with governmental bodies.
Goodman noted the urgency of regulatory measures to ensure all tyre importers and auto brands participate in the stewardship scheme, aiming to eliminate “free riders” in the market.
The need for an “all-in” scheme is underscored by the current contributions, with only 57 per cent of tyre importers and a mere 3 per cent of auto brands participating.
Goodman remarked: “Just imagine what we could do with 100 per cent contributing to an all-in scheme.”
Reflecting on the past decade, Goodman acknowledged the challenges of maintaining sustainability, particularly in light of rising living costs.
However, she stressed the critical nature of the choices made today, warning that Australia must become the custodian of its waste to preserve future options.
Goodman advocates for government procurement mandates that prioritise long-term sustainability over short-term budget considerations.
Such policies could significantly enhance local manufacturing, create jobs, and reduce environmental harm.
She stated: “The development of new, higher value end markets for tyre-derived materials will open choices for investors looking to strengthen Australia’s circular economy businesses, manufacturing, and jobs.”
As TSA embarks on its next decade, the organisation remains committed to fostering a robust circular tyre economy.
With continued innovation and collaboration, coupled with necessary regulatory support, Australia stands poised to make significant strides in tyre recycling and sustainability.
Goodman concluded: “A few steps forward by government will take Australia leaps and bounds into the circular economy.”