I've just moved from Southwark where this system has been used successfully for years, but it does rely on everyone diligently sorting their rubbish. There was a period of transition when green (general waste) overflowed as some households did their bit. But the council along with Veolia proactively engaged with people and encouraged them to be more conscious of their waste.

Personally I prefer it to Lewisham's solution. And I was aghast there was no food waste collection. It pains me to have been putting this in with general waste.