India Pushes for Global Fund to Aid Developing Nations in Fight Against Plastic Pollution

New Delhi: India has proposed the establishment of a dedicated multilateral fund to support developing countries in their efforts to tackle plastic pollution. This proposal, presented during the final round of negotiations for a legally binding international agreement on plastic pollution held in Busan, South Korea, seeks to address one of the most pressing environmental challenges of the 21st century.

The proposed fund, modelled after the highly successful multilateral fund established under the Montreal Protocol—an international treaty that successfully tackled ozone depletion—aims to provide financial and technical support to developing nations. India has called for developed countries to contribute to this fund, emphasising the need for these nations to assist in the transition towards eco-friendly technologies and sustainable practices in less-developed regions.

The fund would be designed to offer grants (rather than loans) to developing countries, making it easier for them to adopt environmentally sustainable technologies and practices. According to India’s proposal, this initiative would provide the much-needed resources to help nations meet the ambitious rules and targets set by the forthcoming global agreement on plastic pollution.

The proposal stresses that financial contributions from developed nations will be critical, not only to address the immediate needs of developing countries but also to ensure long-term, sustainable solutions. Developed nations would be expected to periodically contribute to the fund, with guidelines in place to facilitate private-sector donations.

The proposal says that compliance by the developing countries should depend on the developed countries covering the extra costs involved in transitioning to environment-friendly alternatives.

India has suggested the formation of a subsidiary body with equal representation from developed and developing countries to oversee the fund’s operations, including creating policies, managing resources, and ensuring fair distribution of funds.

The subsidiary body would also handle technology transfers.

In 2022, the United Nations Environment Assembly (UNEA) adopted a historic resolution to tackle plastic pollution on a global scale.

This led to the creation of the Intergovernmental Negotiating Committee (INC) tasked with developing a legally binding international agreement on plastic pollution by 2024.

Since 2022, the INC has held four sessions in Uruguay, France, Canada, and Kenya. The current session in Busan, which runs from November 25 to December 1, is expected to finalise the agreement.