Earth Today | New fund offers financing option for chemicals, waste challenges
Published:Thursday | October 24, 2024 | 12:08 AM
THERE IS a new fund now available to countries that are keen to tackle the twin challenge of chemicals and waste, at a time when every 30 seconds a worker reportedly dies from chemical exposure in the workplace and pollution is responsible for some nine million deaths annually.
The new Global Framework on Chemicals – which embodies the blueprint for a planet free from harm associated with chemicals and waste – launched its first project call earlier this month, following its adoption a year ago at the fifth International Conference on Chemicals Management in Bonn.
The goal now is to support middle income countries, which includes Caribbean small island developing states, to deal with their chemicals and waste problem.
“Pollution and waste constitute a daily crisis for people’s health, undermine economic activity, and leave nature permanently scarred,” said Sheila Aggarwal-Khan, director of the UNEP Industry and Economy Division in an October 1 news release from UNEP on the subject.
“... The historic framework is turning from text into practice and providing concrete benefits for those at the frontlines of this crisis,” she added.
Among the five strategic objectives of the framework are that “enhanced implementation occurs through increased ad effective resource mobilisation, partnerships, cooperation, capacity building and integration into all relevant decision-making processes”.
The objectives also include that “safer alternatives and innovative and sustainable solutions in product value chains are in place so that benefits to human health and the environment are maximised and risks are prevented or, where prevention is not feasible, minimised”.
The framework has, too, 28 targets, including that by 2030, governments adopt and implement legal frameworks, with established appropriate institutional capacity to prevent or otherwise limit adverse effects from chemicals and waste, in line with their national circumstances.
This is together with stakeholders taking, by 2035, effective measures to phase out highly hazardous pesticides in agriculture where the risks have not been managed and where safer and affordable alternatives are available and the promotion of the transition to those alternatives.
Meanwhile, selected projects will receive between US$300,000 and US$800,000 for up to three years “to support transformative change to prevent and minimise harm from chemicals and waste and to protect the environment and human health, including vulnerable groups and workers”.
Among the requirements are that the projects have co-financing and in-kind contributions of at least 25 per cent – with the application open to both governments and civil society networks, “subject to an agreement with the respective government”.
The fund is now asset on medium-scale projects that address strengthened national and regional capacities on chemicals and waste management while also supporting national policies and regulations and advancing solutions.
The fund adds to existing available sources of finance to address environmental challenges, including the Adaptation Fund and The Green Climate Fund – with capitalisation to the tune of some US$27 million from Germany, the Netherlands, Spain, Switzerland, the United Kingdom, as well as the International Council of Chemical Associations.