The Montreal Protocol on Substances that Deplete the Ozone Layer

The Montreal Protocol on Substances that Deplete the Ozone Layer is a global agreement to protect the Earth’s ozone layer by phasing out the chemicals that deplete it. This phase-out plan includes both the production and consumption of ozone-depleting substances. The landmark agreement was signed in 1987 and entered into force in 1989.

The parties to the Protocol meet once a year to make decisions aimed at ensuring the successful implementation of the agreement. These include adjusting or amending the Protocol, which has been done six times since its creation. The most recent amendment, the Kigali Amendment, called for the phase-down of hydrofluorocarbons (HFCs) in 2016. These HFCs were used as replacements for a batch of ozone-depleting substances eliminated by the original Montreal Protocol. Although they do not deplete the ozone layer, they are known to be powerful greenhouse gases and, thus, contributors to climate change.

The Montreal Protocol provided a set of practical, actionable tasks that were universally agreed on. The Protocol has successfully met its objectives thus far and continues to safeguard the ozone layer today. Thanks to the collaborative effort of nations around the world, the ozone layer is well on its way to recovery.

Decision XI/6: Fixed-exchange-rate mechanism for the replenishment of the Multilateral Fund

The Eleventh Meeting of the Parties decided in Dec. XI/6:

Having considered the analysis of the impact on the Multilateral Fund of implementing a fixed exchange-rate mechanism,

Having also considered the recommendations of its technical segment,

  1. To urge Parties to pay their contributions to the Multilateral Fund promptly and in full;
  2. That the purpose and objective of introducing the new mechanism is to ease some of the contributing Parties’ administrative difficulties due to commitments in other than their national currencies, to promote the timely payment of contributions, and to ensure that there is no adverse impact on the level of available resources of the Multilateral Fund;
  3. To direct the Treasurer to proceed with the implementation of the fixed exchange-rate mechanism on a trial basis for the replenishment (2000-2002), so that payments by contributing Parties to the Fund for the triennium commencing in 2000, can be made in accordance with this mechanism;
  4. That only Parties with inflation rate fluctuations of less than 10 per cent, as per the published figures of the International Monetary Fund, for the preceding triennium will be eligible to utilize the mechanism;
  5. That Parties choosing to pay in national currencies will calculate their contributions based on an average United Nations exchange rate for the six months preceding the replenishment period. Parties not choosing to pay in national currencies may continue to pay in United States dollars;
  6. That the Meeting of the Parties should review the implementation of the mechanism at the end of 2001 for consideration at the technical segment of the Meeting of the Parties to determine the impact of the mechanism on the operations of the Multilateral Fund and its impact on the funding of the phase-out of ozone-depleting substances in Article 5 countries during this triennium so that the ozone-depleting substances phase-out process is not adversely affected;
  7. That, in order to ensure the efficient and effective operation of the Multilateral Fund, Parties should strive to pay their contributions as early in the calendar year as possible and no later than 1 June of each year. Parties unable to make their contributions by 1 June should notify the Treasurer as to when during the calendar or fiscal year their payment will be made, but contributing Parties should strive to pay their contributions no later than 1 November of that year.