The FSM and its co-sponsors’ financial mechanism proposal is largely modeled after the financial mechanism of the Montreal Protocol, and calls for a similar Multilateral Fund to support developing countries’ implementation of the plastics treaty. The Multilateral Fund under the Montreal Protocol is widely hailed for its effectiveness in supporting the phaseouts of the ozone-destroying fluoridated gases CFCs and HCFCs. The Fund will also be used to support the upcoming phase down of HFCs under the Kigali Amendment to the Montreal Protocol, which the FSM and Mauritius were first to propose in 2009.
The new co-sponsors group of small island, African and Latin American countries believes a similar fund will be most suitable to help deliver the ambitious goals they share for the expected plastics treaty, including protecting the marine environment from plastic pollution. Six of the seven co-sponsors of the financial mechanism proposal are members of the High Ambition Coalition, and the group has already been approached by several additional countries that are eager to join the group as co-sponsors. “We made excellent progress at this second negotiating session,” said Cindy Ehmes, acting Secretary of the Department of Environment, Climate Change and Emergency Management. “We secured a mandate for a zero draft, and we built major support across several geographic regions for the robust financial mechanism we need. With ambitious, binding obligations across the plastics lifecycle and full and effective implementation support, we’re confident we can achieve our core goals of protecting human health and ecosystems—particularly the marine environment—by eliminating global plastic pollution.” High Ambition Coalition to End Plastic Pollution Joint Ministerial Statement INC2 https://hactoendplasticpollution.org/high-ambition…/ Proposal from Chile, the Cook Islands, Ecuador, the Federated States of Micronesia, Rwanda, Senegal and Uganda on Means of Implementation https://wedocs.unep.org/…/20…/42610/JointProposal.pdf