Annual payment to the Montreal Protocol Ozone Fund

Description What is done in the programme or project and why, what results are pursued, who benefits from the activities and who are involved in the implementation.

The Montreal Protocol on Substances That Deplete the Ozone Layer was opened for signature in 1987. It contains legally binding agreements that aim to reduce the production, consumption and trade of ozone-depleting substances. The Multilateral Fund for the Implementation of the Montreal Protocol was established in 1990 and it provides funds to help developing countries to phase out the use of ozone-depleting substances. The Multilateral Ozone Fund is financed by the industrialized countries according to the UN's contribution chart and the payment obligation for the countries is binding. In addition to the obligatory annual payment of 765 333 euros Finland has also committed to providing additional support of 200 000 euros for supporting quick implementation of reducing hydrofluorocarbons (HFC) as agreed in the Kigali amendment in 2016. Reducing hydrofluorocarbons is highly significant for implementing the Paris climate agreement and for combatting climate change.