India pushes for funds to curb plastic pollution

India has proposed a dedicated multilateral fund for developing countries to drive global action against plastic pollution.

“Provision of technical and financial assistance to developing countries is key to drive global action for addressing plastic pollution. The Indian delegation presented a proposal at the 5th session of the Intergovernmental Negotiating Committee in Busan to set up a dedicated multilateral fund modelled on the one set up for implementation of the Montreal Protocol,” read the Environment Ministry’s statement .

The Indian proposal mandates provision of financial and technical assistance, including the transfer of technologies to developing countries to enable their compliance with control measures agreed in the instrument. The proposal links compliance by developing countries to be incumbent on developed countries meeting the incremental cost of transition of developing countries.

The proposal also provides for the setting up of a subsidiary body with equal representation of developed countries and developing countries to make operational policies, guidelines and administrative arrangements, including the disbursement of resources, for the purpose of achieving the objectives of the multilateral fund.

“Most importantly, the proposed multilateral fund will provide grant-based finance to the developing countries and the developed countries will be mandated to replenish the fund on a periodic basis and also provide flexibility of accepting private funds based upon agreed modalities,” the ministry said.

Four sessions of the committee have been held since 2022 in Uruguay, France, Canada and Kenya. India has been engaging constructively in the negotiations. The fifth session of the INC is being held from November 25 to December 1 and is the last planned session of INC.