29 July 2011: During its 25-29 July 2011 meeting in Montreal, Canada, the 64th meeting of the Executive Committee (ExCom) of the Multilateral Fund agreed to grant US$265 million to China to cut hydrochlorofluorocarbon (HCFC) emissions by 2015. The agreement is expected to lead to dual ozone and climate benefits.

According to the Multilateral Fund, China is the largest producer and consumer of HCFCs, which deplete the ozone layer and have high global-warming potential. The Multilateral Fund indicated that projects agreed at the 64th meeting of the ExCom represent the first stage of the implementation of China’s HCFC phase-out management plan (HPMP), which when completely implemented is expected to eliminate 3,320 tons of HCFC consumption. Replacement technologies are to contribute significantly to global efforts to combat climate change through the reduced emissions of greenhouse gases (GHGs). [Multilateral Fund Press Release]