India Pushes for a Global Multilateral Fund to Tackle Plastic Pollution
Key Highlights:
• New Fund Proposal: India has called for a dedicated Multilateral Fund to support developing nations in transitioning to eco-friendly technologies under a legally binding global treaty on plastic pollution.
• Model Inspiration: The proposal mirrors the successful Montreal Protocol’s Multilateral Fund, emphasizing funding and technical aid.
• Cost Sharing: Compliance for developing countries hinges on developed nations covering their incremental transition costs
The Proposal’s Framework
1. Financial Assistance: The fund will offer grant-based financing to developing nations, replenished by developed countries periodically, with potential inclusion of private funding.
2. Technology Transfer: A proposed subsidiary body would oversee policies, resource allocation, and transfer of technologies.
3. Joint Ownership: Equal representation of developed and developing nations ensures fairness in decision-making.
Why It Matters
India’s initiative addresses the economic barriers faced by developing nations, providing a practical funding model to transition away from harmful practices. This model, rooted in past success with ozone-layer protocols, aims to drive global action on plastic pollution.
Background
• The UNEA 2022 Resolution set the stage for a legally binding treaty on plastic pollution, targeting a 2024 agreement deadline.
• The 5th Intergovernmental Negotiating Committee Session (Busan) is the final step in concluding these negotiations, following prior sessions in Uruguay, France, Canada, and Kenya.
What’s Next?
The Indian delegation’s proactive approach at this pivotal session could influence the final treaty framework, ensuring a balanced and sustainable solution to the global plastic crisis.
🔗 Learn more: UNEA Resolution Details
