IFDMR Establishment – A Solution for Space Debris Mitigation and Removal

Space debris is a global mounting ultimatum to the enduring maintainability of outer space activities and ought to be managed from the very beginning; otherwise, it will be too late. Based on the last couple of years, collisions are incidents that have enhanced space debris accumulation, and the rate at which space activities have resulted in the production of debris is at a threshold position in a linear fashion. Ultimately, space has become the rendezvous of space debris. Based on the growing accumulation of debris and the emerging apprehension regarding a horrible strike and collapse of whole space programs, to remove debris is very expensive process so this paper focuses on the financial challenges and solution as well. Developing and developed countries realize the value of a competent establishment of an International Fund for Debris Mitigation and Removal (IFDMR) that could address the financial issues. Thus, this paper suggests to create incentive opportunities for remediation of space debris and penalties for its production. it would be very strong and effective mechanism to halt this mounting issue by utilizing international fund. The revenue for fund would be collected mainly from contributing member states space agencies, the proportionate contributors of debris producer like (US, RUSSIA, CHINA), and other relevant stack holders, insurance of missions, levying fee from every launching, donations from various international organizations and private entities and UN Aid etc. The fund would be operated by the Director of fund having board of directors as management team under the umbrella of UNOOSA.