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By:

Dr. Sanjay Joshi

31 August 2024 at 3:05:29 pm

The 2016 Turning Point in India’s Plastic Waste Story

Extended Producer Responsibility brought producers into the waste chain—not as bystanders, but as accountable actors. In my last article, I traced the rise of plastics in India — from the early growth of the industry to the explosion of single-use plastics in the 1990s that created mounting environmental concerns. I also looked at how the government began responding through the first plastic waste regulations in 1999 and the stricter rules introduced in 2011. However, those early regulations...

The 2016 Turning Point in India’s Plastic Waste Story

Extended Producer Responsibility brought producers into the waste chain—not as bystanders, but as accountable actors. In my last article, I traced the rise of plastics in India — from the early growth of the industry to the explosion of single-use plastics in the 1990s that created mounting environmental concerns. I also looked at how the government began responding through the first plastic waste regulations in 1999 and the stricter rules introduced in 2011. However, those early regulations were only the beginning. As plastic waste continued to grow in scale and complexity, the government moved to strengthen and broaden the legal framework. In supersession of the Plastic Waste (Management and Handling) Rules, 2011, the Ministry of Environment, Forest and Climate Change, Government of India, notified the Plastic Waste Management Rules, 2016. The 2016 rules marked a significant shift in India’s plastic waste policy, with several important provisions that deserve closer attention. One important change was the increase in the minimum thickness of plastic carry bags from 40 to 50 microns, along with a minimum thickness of 50 microns for plastic sheets, in order to facilitate the collection and recycling of plastic waste. Another major shift was the expansion of the rules from municipal areas to rural areas, recognising that plastic waste had spread well beyond cities. The rules also sought to bring producers and waste generators more directly into the plastic waste management system, including through a collect-back mechanism for plastic waste by producers and brand owners under the framework of Extended Producer Responsibility (EPR). They also introduced plastic waste management fees through the pre-registration of producers, importers of plastic carry bags and multilayered packaging, and vendors selling the same, with the aim of supporting the waste management system. The 2016 framework further promoted the use of plastic waste in road construction, in accordance with Indian Road Congress guidelines, as well as for energy recovery and waste-to-oil processes, as part of efforts towards gainful utilisation of waste. Greater responsibility was also placed on waste generators. Institutions and establishments were required to segregate and store waste in accordance with the Solid Waste Management Rules and hand over segregated waste to authorised waste processing or disposal facilities or deposition centres, either directly or through authorised waste collection agencies. All waste generators were also required to pay such user fees or charges as may be specified in the bye-laws of local bodies for plastic waste management, including waste collection and the operation of related facilities. Even event organisers were brought within the ambit of the rules. Every person responsible for organising an event in an open space, where foodstuffs were served in plastic or multilayered packaging, was required to segregate and manage the waste generated during such events in accordance with the Solid Waste Management Rules. The local bodies, meanwhile, were entrusted with the responsibility of setting up, operationalising and coordinating the waste management system and performing associated functions. Retailers and street vendors were also prohibited from selling or providing commodities to consumers in carry bags or multilayered packaging in violation of the rules, with penalties for non-compliance under local bylaws. Another notable provision was that non-recyclable multilayered plastic, if any, was to be phased out within two years. Among all these changes, one of the most significant was the inclusion of Extended Producer Responsibility (EPR). The Plastic Waste Management Rules, 2016, mandated that producers, importers and brand owners be responsible for collecting and recycling their plastic waste. In later amendments, this framework was strengthened further through year-based targets for collection and recycling, mandatory registration with the Pollution Control Board (PCB) and the EPR portal, as well as recycled content requirements for plastic products and reuse targets for product packaging. I will discuss a few more details and the continuing challenges in implementation in my next article. Till then, have a wonderful weekend. (The writer is an environmentalist. Views personal.)

Lateral upgrade to ailing annihilation

Updated: Oct 21, 2024

Lateral upgrade to ailing annihilation

Being the first person from the private sector to be appointed as chairperson of Securities and Exchange Board of India (SEBI) as part of the government’s lateral initiative, Madhabi Puri Buch also holds the honour of being the first woman to hold the top post as capital market regulator.

But the laurels that the former private sector banker enjoyed in her earlier stint with ICICI Bank, was marred with allegations that she and her husband were having a stake in offshore entities, which were used to artificially inflate shares of Adani group companies.

Terming the allegation as `character assassination, Buch clarified that all disclosures have already been furnished and the fund in question did not invest in any securities involving the Adani group.

When it rains, it pours. This allegation was subsequently followed by Congress Party allegation that Buch had received salary and post-retirement benefits from ICICI Bank after she quit the private sector bank.

In its clarification to the stock exchanges, ICICI Bank asserted that the payments made to Buch were purely retirement benefits after her exit from the bank and they were neither salary nor employee stock options.

Prior to these allegations, Buch tenure at SEBI was all about bringing in quick reforms on operational issues by changing the format of consultation paper to bring in larger responses digitally. Being data savvy, the rationale of her decisions were democratic based on big data analysis derived from the responses received to the consultation papers.

Further she bifurcated the duties of the SEBI staff between operations and enforcement, which were done by the same persons earlier. Having worked for the private sector in the capital market domain space, Buch had a better understanding of the subject compared to officers from the administrative service in the past that reflected even in her orders as a whole-time director at SEBI before becoming the chairperson. As a whole time director at SEBI, her orders on adjudication issues were more directional to the capital market space, according to experts in the compliance space. She was also quick to revamp the old provisions of the 90s at SEBI.

Being tech and data savvy, Buch enhanced regulatory surveillance and detection of market manipulation, insider trading and fraud while also emphasizing on strengthening corporate governance by introducing stricter rules for independent directors and enhancing disclosures for related-party transactions.

To put in perspective, the annual report of the capital market regulator in the just concluded financial year revealed that the number of investigations related to insider trading jumped to 175 in 2023-24 from 85 in the preceding year while probes related to front running jumped over three times to 83 from 24 in the preceding year.

Transparency in mutual funds by implementing measures to protect retail investors along with tightening norms for initial public offers, particularly in the SME platforms were some of her other positive initiatives including confirmation of denial of any market rumours within 24 hours for the top 100 listed companies which will be extended to top 250 companies from December 1. However increased transparency and compliance with tightening regulations led to increased operational costs for the market participants and hence faced resistance from certain quarters. Born in 1966, Buch completed her primary education in Mumbai and graduated with specialization in Mathematics from Delhi and later obtained a management degree from Indian Institute of Management, Ahmedabad. In between, she got engaged to Dhawal Buch, a director at a consumer goods multinational at the age of eighteen and got married at the age of 21.

Besides ICICI Bank, Buch also worked as a lecturer at a college in England, worked at Greater Pacific Capital in Singapore and ICICI Securities as its CEO. She also worked as executive director on several private sector companies and as a consultant for New Development Bank (Brics Bank).

What now remains to be seen, is whether Buch, who survived the 26/11 terror attack when she along with her husband, was attending a meeting at Taj, be able to overcome the current ordeal. Keeping fingers crossed for the times to come.

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