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Executive Committee of the Multilateral Fund for the Implementation of the Montreal Protocol Considers Costs Associated with Climate Benefits

© Multilateral Fund7 April 2009: The Executive Committee of the Multilateral Fund for the Implementation of the Montreal Protocol held its 57th meeting in Montreal, Canada, from 30 March-3 April 2009. The Committee approved US$25.5 million for projects and activities to phase-out ozone depleting substances (ODS), including funds for the phase-out of hydrochlorofluorocarbons (HCFCs).

Among other agenda items, the Committee considered potential uses of a special funding facility within the Multilateral Fund that might potentially cover costs associated with climate benefits, as well as other additional environmental benefits, which are not required for compliance with the Montreal Protocol. Climate-related issues, including the functional unit approach, the facility for additional income and resource mobilization, will be considered at the 58th Meeting of the Executive Meeting, scheduled to convene in July 2009. IISD RS Sources. [Multilateral Fund website]