UN Plastic Treaty Recommendation
Financing
The urgent need to address plastic pollution, particularly in regions lacking resources and capacity, will require robust financing mechanisms.
Reloop’s proposed text emphasises the need to establish mechanisms for financing the implementation of the treaty. National resources, including through producer responsibility schemes and economic instruments, should be allocated to this financing model.
Recognising the unique challenges faced by less developed countries and small island developing states, collaborative efforts are proposed to ensure adequate capacity-building and technical assistance.
A dedicated fund, sourced from various channels, will support implementation activities outlined in Annex Y. These channels include:
- a global plastic fee
- contributions from developed countries
- multilateral development banks
- private finance
- other economic instruments
The fund will operate under the guidance of the governing body, which will establish eligibility criteria and allocation mechanisms.
Parties will be mandated to implement a plastic pollution fee, with proceeds directed towards institutional strengthening, legacy pollution remediation, sustainable waste management systems, and ensuring a just transition for vulnerable groups. Emphasis is placed on capacity-building activities tailored to national needs and fostering country ownership, particularly among developing countries.
Parties should align financial flows with the treaty’s objectives, phasing out support for activities leading to plastic pollution while increasing funding for prevention and mitigation measures. Subsidies for plastic production are to be removed, and policies promoting private investment in pollution prevention are encouraged.
Efforts to mobilise private funding, including through investment guarantees, are emphasised, aiming to de-risk private investment aligned with the treaty’s provisions. Overall, the treaty text provides a comprehensive framework for financing implementation efforts.
The UN Plastic Treaty text amendments
Reloop proposes changes to Part III of the treaty text.
Get the latest on the UN plastic treaty
Reloop will be tracking the progress of the negotiations and sending out email updates.
More on financing
-
Crafting a Blueprint for Financing an International Legally Binding Instrument on Plastic Pollution
Recommendations on ensuring that the UN international legally binding instrument’s implementation can be financed.
-
Simplifying Extended Producer Responsibility for an International Legally Binding Instrument on Plastic Pollution
Summary of recommendations to simplify extended producer responsibility to deliver on the legally binding instrument’s objective.
