195 million to promote the circular economy in the textile, fashion and plastic sectors

Within the framework of the Recovery, Transformation and Resilience Plan (PRTR), the Ministry for the Ecological Transition and the Demographic Challenge (MITECO) has published the official requirements for granting of subsidies, on a competitive basis, from the Biodiversity Foundation to promote the circular economy in the textile, fashion, and plastic sectors for an amount of 195 million euro.

Listen to this article

The objective is to finance projects and actions that contribute substantially to the transition towards a circular economy in the textile and fashion and plastic sectors. Specifically, in the field of research and development, digitalisation to innovate in terms of processes and organisation, increasing the level of environmental protection, and improving waste management.

The aid will have a minimum amount of 100,000 euro per project and beneficiary entity and a maximum of 10,000,000 euro. They are the result of the work of listening and collaborating with the private sector for sectors that have vital importance in the industrial fabric and employment in Spain, but that must adapt to face environmental challenges such as the overexploitation of resources and pollution, which affects health and ecosystems.

They will contribute to the consolidation and creation of employment and will also improve the competitiveness of our companies, since they result in lower costs by achieving a more rational use of resources, valuing waste and minimizing its generation and the cost that its management entails.

In its design, the needs of SMEs, start-ups and social economy entities have been especially taken into account, adapting to their special characteristics so that they can participate in this necessary transition towards a circular economy.

The next step will be the call for the textile, fashion and footwear sector, during the month of March, with 97.5 million euro, which will be followed by the call for plastics with the same amount.

The main opportunity for the textile and fashion sector, so important in our country, consists of converting its circularity and sustainability into differential elements that allow greater competitiveness of the Spanish industry at an international level, responding to the growing regulatory demands and consumer trends.

A sustainable textile system will provide well-being and value to society through the provision of safe, high-quality and affordable textile products, and will contribute to the creation of inclusive jobs with fair wages and working conditions.

For its part, the plastics sector faces the opportunity to increase its contribution to a more sustainable and circular economy, through innovation in products and processes to ensure its sustainability and growth.

The post 195 million to promote the circular economy in the textile, fashion and plastic sectors appeared first on Spain Today – Breaking Spanish News, Sport, and Information.