+
India Proposes Fund to Aid Developing Nations in Tackling Plastic Pollution
ECONOMY & POLICY

India Proposes Fund to Aid Developing Nations in Tackling Plastic Pollution

India has proposed the establishment of a dedicated multilateral fund to assist developing countries in addressing plastic pollution. The proposal was submitted during the final round of negotiations for a legally binding international agreement on plastic pollution, held in Busan, South Korea, from November 25 to December 1, 2024.

Inspired by the Montreal Protocol India's fund concept is modeled on the successful Multilateral Fund under the Montreal Protocol, which provided financial and technical support to combat ozone layer depletion. This proposed fund would operate on a grant-based system, offering financial aid without loans to enable developing countries to transition to eco-friendly technologies and practices.

The proposal highlights that compliance by developing nations should be contingent upon financial and technical assistance from developed countries, including access to advanced technologies.

Key Features of the Proposal Financial Support: Developed countries would make periodic contributions to the fund, supplemented by private sector donations under agreed guidelines. Subsidiary Body: A governance body with equal representation from developed and developing nations would oversee the fund’s operations, including resource allocation, policy creation, and ensuring equitable distribution. Technology Transfers: The subsidiary body would facilitate the transfer of advanced technologies to developing nations, further easing their transition. According to India’s Union Environment Ministry, this fund would ensure that the additional costs of switching to environmentally friendly alternatives are borne by developed nations.

Global Context The proposal comes against the backdrop of the United Nations Environment Assembly's (UNEA) historic 2022 resolution to address plastic pollution on a global scale. This resolution led to the formation of the Intergovernmental Negotiating Committee (INC), tasked with creating a legally binding international agreement by 2024.

Since 2022, the INC has conducted four negotiation sessions across Uruguay, France, Canada, and Kenya. The ongoing Busan session is expected to finalize the terms of the agreement.

A Step Toward Equitable Solutions India’s suggestion to align global efforts with differentiated responsibilities reflects a push for equity in combating plastic pollution. By proposing a grant-based system and emphasizing the need for developed nations to shoulder the financial burden, the plan seeks to ensure fair participation and compliance from developing countries.

As the INC nears its 2024 deadline, India’s fund proposal has the potential to become a cornerstone in the global fight against plastic pollution.

India has proposed the establishment of a dedicated multilateral fund to assist developing countries in addressing plastic pollution. The proposal was submitted during the final round of negotiations for a legally binding international agreement on plastic pollution, held in Busan, South Korea, from November 25 to December 1, 2024. Inspired by the Montreal Protocol India's fund concept is modeled on the successful Multilateral Fund under the Montreal Protocol, which provided financial and technical support to combat ozone layer depletion. This proposed fund would operate on a grant-based system, offering financial aid without loans to enable developing countries to transition to eco-friendly technologies and practices. The proposal highlights that compliance by developing nations should be contingent upon financial and technical assistance from developed countries, including access to advanced technologies. Key Features of the Proposal Financial Support: Developed countries would make periodic contributions to the fund, supplemented by private sector donations under agreed guidelines. Subsidiary Body: A governance body with equal representation from developed and developing nations would oversee the fund’s operations, including resource allocation, policy creation, and ensuring equitable distribution. Technology Transfers: The subsidiary body would facilitate the transfer of advanced technologies to developing nations, further easing their transition. According to India’s Union Environment Ministry, this fund would ensure that the additional costs of switching to environmentally friendly alternatives are borne by developed nations. Global Context The proposal comes against the backdrop of the United Nations Environment Assembly's (UNEA) historic 2022 resolution to address plastic pollution on a global scale. This resolution led to the formation of the Intergovernmental Negotiating Committee (INC), tasked with creating a legally binding international agreement by 2024. Since 2022, the INC has conducted four negotiation sessions across Uruguay, France, Canada, and Kenya. The ongoing Busan session is expected to finalize the terms of the agreement. A Step Toward Equitable Solutions India’s suggestion to align global efforts with differentiated responsibilities reflects a push for equity in combating plastic pollution. By proposing a grant-based system and emphasizing the need for developed nations to shoulder the financial burden, the plan seeks to ensure fair participation and compliance from developing countries. As the INC nears its 2024 deadline, India’s fund proposal has the potential to become a cornerstone in the global fight against plastic pollution.

Next Story
Real Estate

Shriram Properties Launches ‘Codename: The One’ in Bengaluru

Shriram Properties (SPL), a leading real estate developer focused on the mid-market and mid-premium segments, has announced the launch of its latest residential project under the banner “Codename: The One” in Bengaluru’s Electronic City corridor. This feature-rich gated community will offer 340 spacious 2- and 3-BHK residences, with a total saleable area of approximately 5 lakh square feet and an estimated revenue potential of over Rs 3.5 billion. The project is expected to be developed over a span of more than three years.  Strategically located near the Bommasandra Metro stat..

Next Story
Resources

India Warehousing Show 2025 Closes with Strong Global Presence

The 14th edition of the India Warehousing Show (IWS) 2025 concluded successfully at Yashobhoomi (IICC), Dwarka, drawing participation from over 300 exhibitors across 15 countries and welcoming 15,000+ visitors. Recognised as India’s leading platform for warehousing and logistics excellence, IWS 2025 offered a comprehensive display of cutting-edge automation, sustainable warehousing solutions, and next-gen supply chain technologies. The show was inaugurated by Shri Pankaj Kumar, Joint Secretary – Logistics, DPIIT, Ministry of Commerce and Industry, Government of India. In his opening a..

Next Story
Equipment

MHIET Launches 450kW Gas Cogeneration System with H₂ Co-Firing

Mitsubishi Heavy Industries Engine & Turbocharger (MHIET), part of the Mitsubishi Heavy Industries Group, has launched a new 450kW gas cogeneration system, the SGP M450, jointly developed with Toho Gas Co.,. The system supports hydrogen co-firing at up to 15 vol per cent, with no loss in performance or reliability.  The system is currently available in the Japanese market, and has been developed from the existing GS6R2 city gas engine platform. Key modifications were made to the fuel gas and engine control systems to enable hydrogen co-firing.   Verified through de..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?