Under the National Circular Economy Roadmap, CSIRO plans to transform the Australian economy into a “circular economy”, which would manage, reuse and recycle waste, turning landfills into economic benefits. 

The proposal could more than triple job creation from resource recovery in Australia, where the recycling sector currently generates 9.2 jobs per 10,000 tonnes of waste, compared with only 2.8 jobs for the same amount of waste sent to landfills. 

In a statement issued this week, CSIRO state Australia would only need a recovery rate of 5 per cent, to add an additional estimated $1 billion to GDP, while lowering emissions by 27 per cent. 

CSIRO chief executive Dr Larry Marshall believes science and technology can drive Australia’s next wave of economic opportunities.

“Australia is among the world’s best in advanced manufacturing and environmental research, and that unique science can turn industry and environment into partners by making sustainability profitable,” Dr Marshall said.

“Science can transform our economy into a circular one that renews and reuses what we previously discarded, and indeed a virtuous circle that creates higher paid jobs, advances new Australian technology, and protects our environment.”

Hidden gems in Australia’s waste

According to CSIRO, Australian consumers' and businesses’ lack of awareness and understanding about transitioning to a circular economy is costing the country billions. 

As it currently stands, Australia loses out on $419 million every year by not recycling PET and HDPE plastics properly.

Broken down, the cost of sending paper fibres to landfills generates a $115 million waste, while littering is costing $70 million a year to clean up. Australia is also flushing away billions each year by sending lithium from batteries to landfills, which CSIRO plans to turn into a $2.5 billion opportunity by 2036.

According to the roadmap and partnering industries, CSIRO can create an economy that renews and reuses these products, creating higher-paying jobs, bringing forward new technology and protecting the environment in the process. 

“We’re on a mission to make it real. The practical path laid out in this roadmap is part of CSIRO’s mission-led focus on using science to solve our greatest challenges while driving our economic recovery and building future resilience.”

Project leader Dr Heinz Schandl said the roadmap was created to shape a circular economy strategy for Australia to address fundamental environmental issues and foster regional employment.

“Our traditional ‘take, make, dispose’ consumption pattern is hitting two walls: ever more expensive primary materials and ever more unacceptable ways of dealing with waste,” Dr Schandl said.

“The global pandemic has disrupted global supply chains, which challenges Australia to be self-sufficient with sovereign manufacturing capability.”

The roadmap identifies six elements for moving towards a circular economy of plastics, paper, glass and tyres:

1. Retain material through use and collection
2. Upscale and innovate recycling technologies
3. Innovate and collaborate in design and manufacture
4. Develop markets for secondary materials and the products that use them
5. Streamline nationally consistent governance
6. Secure a national zero waste culture.

About the author

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

About the author

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

more on this topic

Economy

Financial pressures and the 'she'll be right' attitude delay Australian divorces

In a revealing study, the Real Cost of Separation Report 2026 by Real Insurance has uncovered a trend of 'quiet uncoupling' among Australians, with financial pressures and concerns for children ...Read more

Economy

Labour market resilience provides RBA room for manoeuvre, says State Street economist

In the wake of the latest Labour Force data release, State Street, a global leader in financial services with a staggering US$54.5 trillion in assets under custody and administration and US$5.5 ...Read more

Economy

Geopolitical tensions shape investor strategies in private markets

In the face of mounting geopolitical tensions, investors are honing their strategies in private markets, as revealed by the 44th edition of the Coller Capital Global Private Capital BarometerRead more

Economy

Ellerston sees investment shift as Middle East tensions ease and inflation persists

Amid signs of easing tensions in the Middle East with US-Iran peace negotiations progressing, albeit at a slower pace than desired by markets, investors are being advised to reevaluate their ...Read more

Economy

Global markets face stagflationary pressures amid rising inflation and diverging growth

In a recent macroeconomic report, the Franklin Templeton Fixed Income team has highlighted that global markets are increasingly encountering a stagflationary environment, characterised by intensifying ...Read more

Economy

Corporate capex provides solid footing for US equities, says ClearBridge

In a promising development for the US economy, corporate capital expenditures (capex) are playing a crucial role in supporting economic growth, according to Jeff Schulze, head of economic and market ...Read more

Economy

Brands turn to household care and laundry strategies to weather cost-of-living crisis

As the UK braces for a 13% hike in its energy price cap by July 2026 and US gas prices soar to a four-year high due to geopolitical tensions, the global spotlight is once again on the cost-of-living ...Read more

Economy

GDP data prompts State Street expert analysis on cash rate and trade surprises

In light of the latest GDP figures, State Street, a global leader in financial services with a staggering US$54.5 trillion in assets under custody and/or administration and US$5.5 trillion in assets ...Read more