Legal Alert – A Guide On The Application Of Provisions Regarding Financial Guarantees For Waste-Related Operations Published
The new Finnish Waste Act and amendments related to it in the Environmental Protection Act entered into force on 1 May 2012. As part of the overall reform of the Waste Act, provisions on a financial guarantee for waste-related operations under the Waste Act and the Environmental Protection Act were renewed. The Waste Act and Environmental Protection Act stipulate that a financial guarantee to ensure proper waste management is required from
- manufacturers of electrical and electronic equipment used in households;
- waste carriers and suppliers;
- those involved in international waste transfers; and
- entities engaged in waste treatment.
The amended regulations more specifically limit the scope of approved forms of financial guarantee and indicate those parties allowed to provide the guarantee.
Ministry of the Environment retained Attorneys at law Borenius Ltd to draft a guide to instruct operators and authorities in the application of the renewed provisions on a financial guarantee.