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 XXVI/11: Extension of the fixed-exchange-rate mechanism to the 2015-2017 replenishment of the Multilateral Fund

  1. To direct the Treasurer to extend the fixed-exchange-rate mechanism to the period 2015–2017;
  2. That parties choosing to pay their contributions to the Multilateral Fund for the Implementation of the Montreal Protocol in national currencies will calculate their contributions based on the average United Nations exchange rate for the six-month period commencing 1 January 2014;
  3. That, subject to paragraph 4 below, parties not choosing to pay in national currencies pursuant to the fixed-exchange-rate mechanism will continue to pay in United States dollars;
  4. That no party should change the currency selected for its contribution in the course of the triennium 2015–2017;
  5. That only parties with inflation rate fluctuations of less than 10 per cent, pursuant to published figures of the International Monetary Fund, for the preceding triennium will be eligible to use the fixed-exchange-rate mechanism;
  6. To urge parties to pay their contributions to the Multilateral Fund in full and as early as possible in accordance with paragraph 7 of decision XI/6;
  7. To agree that if the fixed-exchange-rate mechanism is to be used for the replenishment period 2018–2020, parties choosing to pay their contributions in national currencies will calculate their contributions based on the average United Nations exchange rate for the six-month period commencing 1 January 2017;