Guidelines for allocating funds supporting the phase-out of hydrochlorofluorocarbons (HCFCs) have been agreed, boosting prospects for further greenhouse gas savings under the Montreal Protocol.
The new rules were agreed at a meeting of the Protocol’s financial mechanism, the Multilateral Fund. They mean that HCFC replacements with a low global warming potential (GWP) will receive up to 25% more cash than high-GWP alternatives.
The Montreal Protocol on ozone-depleting substances has been credited with delivering greater climate benefits than the Kyoto Protocol because of action on ozone-depleting chlorofluorocarbons (CFCs) and replacement HCFCs. Both are powerful greenhouse gases.