Financial considerations

IX. Financial considerations

62.    Adequate, predictable and sustainable financing, technical assistance, capacity-building and technology transfer on mutually agreed terms are essential for achieving the objectives and targets of the Framework. The participation of representatives of all involved stakeholders and sectors at the national, regional and international levels should be ensured in the integrated approach to financing the sound management of chemicals and waste.

A.    Integrated approach to financing
63.    All three components of the integrated approach to financing – mainstreaming, private-sector involvement and dedicated external finance – are equally important and mutually reinforcing. 
64.    Stakeholders should take steps to implement the integrated approach to financing the sound management of chemicals and waste, including, in particular, making tangible progress with respect to the three components. 
    1.    Mainstreaming
65.    Mainstreaming is key for ensuring that needs are met nationally and that support through national budgets, bilateral development assistance plans, and multilateral assistance framework processes is mobilized. 
66.    International, regional and national financial institutions and their governing bodies, as well as the private sector and investors, are strongly encouraged to expressly integrate sound management of chemicals and waste activities in the scope of activities that they fund. 
    2.    Private-sector involvement
67.    The private sector, throughout the value chain, should increase its efforts to internalize costs, as well as increase its financial and non-financial contributions to the implementation of the sound management of chemicals and waste, in order to avoid or, where that is not possible, reduce their risks and mitigate their adverse impacts on the environment and human health. 
68.    The private sector should support the Framework objectives and targets of sound management of chemicals and waste by providing contributions, including enforcement of the Globally Harmonized System of Classification and Labelling of Chemicals (GHS) globally, data generation, data sharing, partnerships and capacity-building. The private sector should further advance the sound management of chemicals and waste through commitments to innovation, training, safety and sustainability initiatives, as well as compliance with chemicals- and waste-related regulatory requirements, and including relevant elements of occupational safety and health in jurisdictions around the globe. 
    3.    Dedicated external financing
69.    Stakeholders should strengthen the component of dedicated external financing, including by leveraging private finance, promoting innovative and blended finance, considering strategies for increasing resources, and encouraging the private sector to invest in the sound management of chemicals and waste.
70.    Stakeholders decide to establish a Global Framework on Chemicals Fund to support Framework stakeholders in the implementation of the Framework. The Fund will contain a voluntary, time-limited trust fund and may include multilateral, bilateral and private-sector sources. The Fund will be administered by the United Nations Environment Programme. 
71.    Inviting Governments and other stakeholders to provide resources to enable the secretariat of the Global Framework on Chemicals to fulfil the tasks set out in paragraph 70 above, including by:
(a)    Inviting the United Nations Environment Programme to arrange for the transfer of the funds remaining in the Quick Start Programme Trust Fund to initiate the Global Framework on Chemicals Fund;
(b)    Inviting all countries and regional economic integration organizations to contribute; 
(c)    Inviting the private sector, including industry, foundations and other non-governmental organizations, to also contribute.

B.    Establishment of and engagement in multisectoral partnerships
72.    Stakeholders are encouraged to create and implement transparent and accountable multisectoral partnerships. Stakeholders are also encouraged to explore funding opportunities by engaging mechanisms in all sectors.