Victorian households will use a purple-lidded bin for glass recycling from next year.
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The addition of the fourth-bin to homes - along with the red-lidded household waste bin, the yellow-lidded plastics, metal and paper bin and the green-lidded food and garden organics bin - is the first state government policy to be introduced as part of the Recycling Victoria Package.
Premier Daniel Andrews and environment minister Lily D'Ambrosio made the announcement on Monday that also included a container-deposit scheme being introduced from 2023.
The two introductions hope to help reduce the amount of waste going to landfill by 80 per cent over the next 10 years.
Loddon Mallee Waste and Resource Recovery Group executive officer Gordon Fraser said the prospect of new recycling policies was exciting.
"This is a paradigm shift for waste and resource recovery in Victoria," he said. "It's a recycling revolution I am excited to be a part of. There are quite a lot of approaches we can take (to recycling) and these ones are big steps in the right direction."
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Mr Andrews said the $129 million of initiatives announced on Monday will help position Victoria as a leader in reducing waste.
"This transformation will position Victoria as a national leader in recycling," he said. "Most importantly, it will deliver a system that Victorians can actually rely on.
"This represents a holistic approach to reducing, reusing and recycling our state's waste. That's good news for Victoria's environment and good news for Victorian jobs."
The rollout of the new bins will be informed by the needs of local communities and existing council contracts.
"The details of how the delivery of services will be prescribed left up to councils," Mr Fraser said. "But the objective is to deliver a service that delivers a four-bin-like outcome. Some smaller councils may have alternative ways to keeping glass (separate).
"I'm confident the community of Victoria is caring and compassionate about the future of planet and will get behind this."
Environment Minister Lily D'Ambrosio said on Facebook the new container-deposit scheme would be in place by 2023.
"This will reduce the amount of plastic and waste that goes to landfill. It will give a second, third and fourth life to beverage containers. It will reduce litter. And it will mean businesses have an ongoing source of recycling material to turn into new products," she said.
"This is just the first of a suite of reforms to Victoria's recycling industry."
Victoria is the only Australian state without a container-deposit program.
"It's recycling an old idea (and) has many benefits. Victoria had a container-deposit scheme many, many years ago," Mr Fraser said. "It reduces littering and the amount of materials lost to the environment and clubs and associations can fundraise from it."