Overview of SECOS Group's response to draft Victorian waste and recycling standards

SECOS Group Limited (ASX: $SES) has expressed deep concern and opposition to the draft Proposed Household Waste and Recycling Service Standard 2024 released by Recycling Victoria for consultation. The company intends to challenge the non-acceptance of certified compostable caddy bin liners in Victoria's new standardised household waste and recycling system, citing misalignment with Australia's environmental commitments and the adverse impact on the diversion of household recyclables and organic material from landfills.

Executive commentary on the opposition to draft Victorian waste and recycling standards

SECOS strongly opposes the restriction of compostable packaging or certified compostable caddy bin liners in household green bins as outlined in the Draft Service Standards. The company is seeking a meeting with the Victorian Minister for the Environment to advocate for the benefits of certified compostable caddy bin liners and to pursue a satisfactory resolution in the best interest of the Victorian public, the environment, and shareholders. The reversal of the initial position on certified compostable caddy bin liners is concerning, especially considering the positive impact they have demonstrated in diverting household food waste and reducing contamination in soils.

Summary of SECOS Group's response and outlook

SECOS Group (ASX: $SES) has vehemently opposed the draft Victorian waste and recycling standards, highlighting the adverse consequences of not permitting certified compostable caddy bin liners. The company has emphasized the environmental benefits and the significant increase in food waste diversion associated with the use of these liners. SECOS is committed to preventing the implementation of the Draft Service Standards and encourages shareholders to express their objections. The company will continue to engage with the Victorian Government and provide further updates as the consultation period progresses.