[POLICY BRIEF] Ensuring Equity and Transparency in Financing Mechanisms in Plastics Treaty at INC-5

29 November 2024

Ensuring equity, transparency, and accountability in financial flows to support the Treaty’s objectives, particularly for countries most impacted by plastic pollution.

DOWNLOAD: Azul’s Policy Brief on Financing Mechanisms in Plastics Treaty at INC-5

As the fifth session of the Intergovernmental Negotiating Committee to develop an international legally binding instrument on plastic pollution, including in the marine environment (INC-5), works to finalize the text of the Treaty, Azul’s policy brief highlights critical considerations for the Treaty’s financing mechanisms.

Azul’s recommendations focus on ensuring equity, transparency, and accountability in financing mechanisms to support the Treaty’s objectives, particularly for countries in the Global South most impacted by plastic pollution.

Key Issues Addressed in the Brief:

1. Definition of Developing Countries: The current definition of “developing countries” under UN frameworks is insufficient for this Treaty’s financing mechanisms. Azul advocates for a holistic, needs-based approach using the Human Development Index (HDI) to identify nations most in need of support. 

2. Financial Flows: Azul suggests a financing mechanism grounded in the “polluter-pays” principle and common but differentiated responsibilities. Mandatory contributions from developed countries, international institutions, and the private sector should support capacity-building, technical assistance, and national action plans in low-resource countries. Regular independent reviews should ensure fairness and that funds reach those with the most urgent needs.

3. Transparency Mechanism: Azul recommends a robust transparency board to oversee fund disbursement, ensuring that financial contributions, allocations, and outcomes are publicly accessible and independently audited. This mechanism will build accountability, equity, and alignment with the Treaty’s objectives.

4. Definition of Fundable Activities: The financing mechanism must prioritize inclusive and sustainable solutions to plastic pollution, including capacitating marginalized communities and groups disproportionately impacted by plastic pollution.

Azul’s recommendations at INC-5 ensure that the financing mechanisms in the Treaty are equitable, transparent, and prioritize health and human rights. 

Read the full policy brief and join us in advocating for a Treaty that leaves no community behind.