Hello Sir, It’s been interesting times down under as government-mandated deadlines hover over the horizon. Industry wonks and insiders aren’t even bothering to hedge their bets; they’re all saying that the deadlines will not be met.
Why is this? I don’t even know where to begin. It’s like a Penrose Staircase – everyone is going round and round in circles, and they don’t really know why. I exaggerate slightly; it’s not completely true. Those at the coalface of industry know why, but those who make the decisions have no idea. However, they do know when the next election cycle will come around. They know how to work a crowd. Pity they don’t know how to work an industry.
I don’t think I blather on about the reasons . Okay, I’ll mention a few. There is no harmonisation between the states, unrealistic goals, and a lack of infrastructure. More importantly, companies are unwilling to invest in facilities due to a whole raft of reasons that I won’t go into now (with the exception of one; see below). I believe that I could write this letter to you two years from now, and I wouldn’t have to change one word for it to still be true.
Now for that exception: insurance coverage. By golly, I remember when I went to get my life insurance and told the broker my occupation, he almost choked on his tie. There must be a similar reaction CEOs are getting in the waste industry when getting insurance premium quotes and being told that 1) they’ll get no coverage unless a whole lot of expensive remedies are carried out on their premises, or 2) they’ll get no coverage at all.
Read more: Waste industry guide to insurance renewals
Having spoken to a broker or two recently about several different types of insurance (it’s amazing – ahem – how much my life insurance premiums will go down if you ever decide to put me behind a desk instead of out in the field, Sir), and the considerations that are made when getting a quote – they’re called ‘mitigating circumstances’. There is an array of these circumstances, depending on the situation. It’s like trying to navigate a minefield – one wrong step and you’re in big trouble.
You want an example? My two friends say that it is not advisable to charge your electric forklift overnight. Do that, and an insurer will either hike your premium markedly or, more likely, not give you a policy at all.
Apparently, throughout the world, there has been a big increase in such fires, not just in waste facilities, but in an array of other industries’ buildings.
Insurers know that lithium-ion batteries are here to stay for the immediate future, so they are factored in when putting together risk factors.
And remember, this is only one aspect taken into consideration by an insurer. Think of all the other risks that abound within the industry. It’s a risk assessment that would make even Q sweat.
I’d like to end on a more positive note by wishing the country the best in its efforts to reach the many recycling and reuse targets being set. But I can’t. Because it’s not going to happen. The funny thing is, the remedies are not that hard to come by, but apparently backbones are