A "unique" Icelandic producer responsibility fund launched in January is set to nearly double in scale to €8.5m next year, figures in the 2004 budget show. The budget was approved by Iceland's parliament last week.
The Icelandic recycling fund builds on an existing hazardous waste fund in operation since 1997. It imposes levies on a range of products, with revenues earmarked to pay for environmentally sound disposal and recycling.
The hazardous waste fund covered products such as batteries, organic solvents, refrigerators and oil that generate hazardous waste at the end of their lives. It generated revenues of €1.5-2m, according to the environment ministry.
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