01 Jan 1970 News Green economy

Developing countries receive US$ 540 million to fight climate change

At a the 29th Meeting of the Parties to the Montreal Protocol, developed countries pledged to provide US$ 540 to reduce emissions. The funds will be used to phase out the use of hydrochlorofluorocarbons and hydrofluorocarbons. Hydrochlorofluorocarbons are gases harmful to the ozone layer. Hydrofluorocarbons (HFCs) are a cause of global warming. The meeting was held in Montreal from 20 to 24 November.

The funds will be provided from 2018 to 2020 through the Multilateral Fund for the Implementation of the Montreal Protocol. The parties also celebrated the 30th anniversary of the zone-saving treaty. Several high-level representatives, such as former Prime Minister of Canada, Brian Mulroney, attended.

Canada’s Minister of Environment and Climate Change, Catherine McKenna, said, “The Montreal Protocol is an example of how we can come together, that we can do what naysayers think is impossible, that we can heal our planet.”

The meeting also urged members who have not yet ratified the Kigali amendment to do so. The Kigali amendment to the Montreal Protocol will enter into force in 2019. It requires the nations of the world to reduce HFCs by 80% over the next 30 years. This is expected to prevent 0.5° of global warming.

"It is through the widest ratification of the Kigali Amendment that we will deliver on its promise of protecting our planet for future generations,” said Tina Birmpili, head of the Ozone Secretariat.

For more information write to tina.birmpili@un.org