India Proposes Multilateral Fund to Support Developing Nations in Combatting Plastic Pollution

India has put forward a plan to establish a multilateral fund aimed at assisting developing nations in combating plastic pollution. This proposal was introduced during the concluding negotiations for a binding international treaty on plastic pollution in Busan, South Korea. The proposed fund is inspired by the successful multilateral fund under the Montreal Protocol, which addressed ozone layer depletion.

The Indian proposal suggests that developed countries should offer financial and technical assistance, including access to advanced technologies, to help developing countries comply with the upcoming global agreement on plastic pollution. The fund would provide grants instead of loans to facilitate the transition to eco-friendly technologies and practices for these nations.

Support from Developed Nations

According to India's proposal, developed countries would need to make regular contributions to the fund. Additionally, private sector donations would be allowed based on agreed guidelines. A statement from the Union environment ministry highlighted that compliance by developing countries should rely on developed nations covering the extra costs involved in transitioning to environmentally friendly alternatives.

India has also recommended forming a subsidiary body with equal representation from both developed and developing countries. This body would oversee the fund's operations, including policy creation, resource management, and ensuring fair distribution of funds. It would also handle technology transfers.

Global Efforts Against Plastic Pollution

In 2022, the United Nations Environment Assembly (UNEA) adopted a significant resolution to address plastic pollution globally. This led to the establishment of the Intergovernmental Negotiating Committee (INC), tasked with creating a legally binding international agreement on plastic pollution by 2024.

The INC has conducted four sessions since 2022 in Uruguay, France, Canada, and Kenya. The current session in Busan, running from November 25 to December 1, aims to finalise this agreement.

The proposed multilateral fund is expected to ease the transition for developing countries by providing necessary resources and support. This initiative underscores India's commitment to addressing global environmental challenges through collaborative efforts.