Why in news
India says developing countries will only comply with plastic control measures if they are compensated for the costs involved.
This is India’s first substantive move during the talks being held in the South Korean city of Busan.
India stresses that developed countries should transfer technology to developing nations, considering their specific needs and circumstances.
A new fund
India proposes creating a new financial fund to help developing countries with the costs of plastic control measures.
This fund should be separate from existing financial mechanisms.
The fund would be managed by a dedicated body and help ensure a “just transition” towards sustainable plastic use, including technology transfer and financial support.
Global Plastics Treaty
The Global Plastics Treaty is a significant attempt to establish a legally binding agreement aimed at reducing and eliminating plastic pollution.
The decision to establish an Intergovernmental Negotiating Committee (INC) was made in early 2021 during the fifth UN Environment Assembly in Nairobi, Kenya.
The INC’s journey, beginning with an Ad Hoc Open-Ended Working Group meeting in Dakar, Senegal, in mid-2022
Followed by subsequent meetings in Uruguay, Paris, and Nairobi, with the 4th INC-4 in Canada in April this year.
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