Page 30 - Plastics News February 2024

ENVIRONMENT NEWS

Under the EPR guidelines, entities involved
in the plastic industry are required to register
on the centralised EPR portal managed by
the CPCB. However, these public and private
units have reportedly neglected to fulfil this
obligation, prompting the issuance of notices
by the regulatory authority. Among the affected
companies, seven are located in Punjab, 22 in
Uttarakhand, and 13 in Himachal Pradesh,
further highlighting the nationwide scope of the
non-compliance issue.

22 Karnataka plastic firms, among 687 nationwide, face closure

In a notice dated January 15, the Central Pollution Control Board (CPCB) has given 22 plastic firms in Karnataka, among
687 nationwide, a 10-day window to explain their failure to adhere to the Extended Producer Responsibility (EPR)
rules. Despite being granted ample time for compliance, the units now face the prospect of closure if they fail to provide
satisfactory explanations for their non-compliance within the stipulated time frame.
No Plastic Notes in India: Durability and Counterfeit Resistance Take Precedence

The Indian government has confirmed that it has no plans to introduce plastic notes, focusing instead on enhancing the
durability and counterfeit resistance of existing banknotes. Minister of State for Finance Pankaj Chaudhary emphasised
this stance in response to discussions about potential adoption of plastic currency. The government is dedicated to
strengthening security measures and expenditure on security printing, with no specific costs allocated for plastic notes
printing. Additionally, Chaudhary emphasised that trading illegal commodities using any assets, including crypto assets,
is considered a crime and subject to penal provisions. The government has extended Anti-Money Laundering (AML)
and Counter Financing of Terrorism (CFT) provisions to include Virtual Digital Assets (VDAs) under the Prevention of
Money Laundering Act (PMLA), strengthening regulatory frameworks. Furthermore, comprehensive taxation regimes
have been introduced for crypto asset transactions, and companies are required to disclose their crypto asset holdings in
financial statements. These measures underscore the government's commitment to currency integrity, combating illegal
activities, and ensuring transparency in financial transactions.

UPCOMING EVENT

Fourth session of the Intergovernmental Negotiating Committee (INC-4) on plastic pollution, including in the marine
environment.
The fourth session of the Intergovernmental Negotiating Committee to develop an international legally binding
instrument on plastic pollution, including in the marine environment (INC-4), is scheduled to take place from 23 to 29
April 2024 at the Shaw Center in Ottawa, Canada. The session will be preceded by regional consultations on 21 April
2024.

30 PLASTICS NEWS February 2024