Who gains from saving nature
Ledger 1 : 33 — For each dollar financing nature-based solutions in 2023, about $33 financed activities harmful to nature. (UNEP)
Cases / Finance, funds and markets · Global · 1991–2026

Multilateral Fund for the Implementation of the Montreal Protocol

Nature's voice · report
Cumulative since 1991 until 2025 5.14 billion US dollars were pledged in my name. The benefit that was measured: Total chlorine entering the stratosphere, declined by 420 ± 20 ppt (11.5%).
Did nature suffer? Not measured. Accounts differ ↓
What the record lacks: 1 none on record · 2 self-reported only · 2 not measured · 3 disputed · 1 unclear See the gaps
Accounts of the harm differ
Whether ozone-depleting-substance production continued after the agreed phase-out

The Multilateral Fund, financed by contributions from developed countries since 1991, pays developing countries' costs of phasing out ozone-depleting substances; its own page reports US$5,142,603,539 pledged and 510,094 ODP tonnes phased out. A 2004 external evaluation found the Fund very successful, the peer-reviewed 2022 WMO/UNEP assessment found the Protocol effective at reducing atmospheric ODS, and a 2018 Nature paper reported unreported new CFC-11 production after 2012.

510,094 ODP tonnesOzone-depleting substances phased out since 1991, as reported by the Fund
The Fund's own figure from its "Our impact" page, which carries no date; no independent verification of this total was found in the sources reviewed. The 2022 WMO/UNEP assessment measures atmospheric abundance and does not mention the Fund.

Status As of June 2026: the Fund reports 10,584 approved projects and US$4,489,718,894 approved cumulatively to 2025; a 2024-2026 replenishment of 965 million dollars was set in 2023; no independent verification of the Fund's phase-out total is on record.

What?
A multilateral fund financed by developed-country contributions that pays developing countries' incremental costs of phasing out ozone-depleting substances under the Montreal Protocol. Ozone Secretariat, UNEP (note by the Secretariat)
Where?
Article 5 countries worldwide; contributions come from Article 2 countries. Ozone Secretariat, UNEP (note by the Secretariat)
When?
Interim Fund 1990 to December 1992; financial mechanism established November 1992; Fund totals from 1991 to 2025/June 2026; 2024-2026 replenishment set 27 October 2023. Ozone Secretariat, UNEP (note by the Secretariat)
Who?
Gained
Lost
Harmed
Why?
To meet the incremental costs Article 5 Parties incur to comply with the control measures of the Montreal Protocol (ICF's description of the mechanism's purpose). Ozone Secretariat, UNEP (note by the Secretariat)
How?
Contributions are pledged and paid by Article 2 countries; an Executive Committee approves projects that implementing agencies carry out; the Fund reports totals approved and disbursed. Ozone Secretariat, UNEP (note by the Secretariat)
6 of 6 questions answered from the record

What happened

The record, in order.

The financial mechanism of the Montreal Protocol, including the Multilateral Fund (MLF), was established by the Fourth Meeting of the Parties in November 1992, after an Interim Multilateral Fund created in 1990 that operated until December 1992, according to a 2004 external evaluation prepared by ICF Consulting. The mechanism was set up to meet, on a grant or concessional basis, the incremental costs that developing-country Parties (Article 5 Parties) incur to comply with the Protocol's control measures. The Fund's own totals run from 1991.

The Fund's "Our impact" page reports, cumulative from 1991 to 2025, US$5,142,603,539 pledged, US$4,489,718,894 approved and US$3,901,448,327 disbursed. It reports 10,584 projects approved "till June 2026" in 144 Article 5 countries, 86% of them completed, and 510,094 ODP tonnes (ozone-depleting-potential tonnes) of ozone-depleting-substance (ODS) consumption and production phased out since 1991; for 1991 to 2021 it reports more than 756,000 metric tonnes of baseline ODS consumption. The page also gives the Fund's own estimates of climate benefit, among them 51.1 gigatonnes of CO2-equivalent avoided from Article 5 countries in 1995 to 2021 and a cost of US$0.07 per tonne of CO2-equivalent. The Fund's homepage gives different totals ("$4.3 BN" in grant funding and 10,198 approved projects), and neither page carries a date.

Independent material addresses parts of this record. The 2004 evaluation, requested by the Parties and prepared by ICF Consulting, found that the Multilateral Fund "has been very successful in phasing out ODS and enabling compliance of Parties operating under Article 5 of the Montreal Protocol". It reported that by December 2003 nearly US$1.6 billion in contributions paid by Article 2 countries had supported about 4,600 projects and activities in 134 developing countries; that projects approved through 2002 were anticipated to result in the phase-out of about 127,890 ODP tonnes of consumption and about 52,260 ODP tonnes of production; that over 92 percent of agreed contributions for 1991 to 2003 had been paid, disputed contributions excluded; and that 20 of the 51 donors had outstanding contributions. The evaluation stated that its performance grades were the result of ICF's judgment. In the 2022 Scientific Assessment of Ozone Depletion by WMO and UNEP, whose chapters were peer-reviewed by over 100 expert reviewers, the Protocol "continues to be effective at reducing the atmospheric abundance of ODSs"; total chlorine entering the stratosphere declined by 420 ± 20 ppt (11.5%), and total column ozone was expected to return to 1980 values around 2066 over Antarctica, about 2045 over the Arctic and around 2040 for the near-global average. The assessment found no statistically significant Arctic ozone trend for 2000 to 2021 and does not mention the Multilateral Fund.

A peer-reviewed paper by Montzka and colleagues (Nature, 17 May 2018) reported that the decline of atmospheric CFC-11 slowed by about 50 per cent after 2012 and estimated an increase in CFC-11 emissions of 13 ± 5 gigagrams per year (25 ± 13 per cent) since 2012, "despite reported production being close to zero since 2006", which the authors wrote "suggests unreported new production". The 2022 assessment states that "A large fraction of the unexpected emissions originated from eastern China" and that "This drop suggests the elimination of most of the unexpected emissions occurring in the years after 2012". For 2024 to 2026 the Parties' Decision XXXV/1 (27 October 2023) set a replenishment of 965 million United States dollars, of which 525.6 million dollars are new contributions, at 175.2 million dollars for each of 2024, 2025 and 2026.

  1. 1990Interim Multilateral Fund created; it operated until December 1992
  2. 1991Start of the period for which the Fund reports cumulative totals
  3. 1992Fourth Meeting of the Parties establishes the financial mechanism, including the Multilateral Fund (November)
  4. 2003By December, nearly US$1.6 billion in contributions paid by Article 2 countries had supported about 4,600 projects and activities in 134 developing countries (ICF evaluation)
  5. 2004ICF Consulting external evaluation circulated to the 16th Meeting of the Parties as UNEP/OzL.Pro.16/11 (5 October)
  6. 2018Montzka et al. report unreported new CFC-11 production after 2012 (Nature, 17 May)
  7. 2022WMO/UNEP Scientific Assessment of Ozone Depletion 2022 finds the Protocol effective at reducing atmospheric ODS abundance
  8. 2023Decision XXXV/1 sets a replenishment of 965 million dollars for 2024-2026 (27 October)
  9. 2026Fund page reports 10,584 approved projects "till June 2026"

What was said

Claims, in the words of those who made them.

“The Fund has contributed to the successful implementation of the Montreal Protocol and gone beyond.”

“The Fund has been instrumental in the complete phase-out of CFCs, CTC, halons, methyl bromide and methyl chloroform”

“The Multilateral Fund has been very successful in phasing out ODS and enabling compliance of Parties operating under Article 5 of the Montreal Protocol.”

“the Montreal Protocol continues to be effective at reducing the atmospheric abundance of ODSs.”

“this suggests unreported new production, which is inconsistent with the Montreal Protocol agreement to phase out global CFC production by 2010.”

Where accounts differ

Each party's account, side by side, with its source. The record does not settle these points; it shows them.

Totals reported by the Fund
International bodies
Multilateral Fund, "Our impact" page

US$4,489,718,894 approved cumulatively to 2025; "US$4.5 billion" allocated "As of June 2026"; 10,584 projects approved "till June 2026".

Multilateral Fund for the Implementation of the Montreal Protocol
International bodies
Multilateral Fund, homepage

"$4.3 BN" in grant funding and 10,198 approved projects.

Multilateral Fund for the Implementation of the Montreal Protocol
Whether ozone-depleting-substance production continued after the agreed phase-out
International bodies
Multilateral Fund, "Our impact" page

The Fund "has been instrumental in the complete phase-out of CFCs, CTC, halons, methyl bromide and methyl chloroform".

Multilateral Fund for the Implementation of the Montreal Protocol
Researchers
Montzka et al., Nature (2018)

CFC-11 emissions rose by 13 ± 5 gigagrams per year since 2012 "despite reported production being close to zero since 2006"; the increase "suggests unreported new production".

Nature (Springer Nature)
Researchers
WMO/UNEP Scientific Assessment (2022)

"A large fraction of the unexpected emissions originated from eastern China"; the later drop "suggests the elimination of most of the unexpected emissions occurring in the years after 2012".

WMO / UNEP / NOAA / NASA / European Commission (hosted by NOAA Chemical Sciences Laboratory)

How it looked

What was shown, beside what was recorded.

Shown

Recorded

In nature's name

What was promised in nature's name, the money that moved, and what was measured.

Promised

Money moved in nature's name

WhatKindAmountPeriod
Funds pledged to the Multilateral Fund, cumulative
Contributing countries
Multilateral Fund for the Implementation of the Montreal Protocol
Pledged$5.1bn1991–2025
Funds approved, cumulative
Executive Committee of the Multilateral Fund
Multilateral Fund for the Implementation of the Montreal Protocol
Budget$4.5bn1991–2025
Funds disbursed, cumulative
Multilateral Fund
Multilateral Fund for the Implementation of the Montreal Protocol
Paid out$3.9bn1991–2025
Contributions paid by Article 2 countries
Article 2 countries
Ozone Secretariat, UNEP (note by the Secretariat)
Raised$1.6bn1991–December 2003
Replenishment for the 2024-2026 triennium
Parties to the Montreal Protocol
Thirty-Fifth Meeting of the Parties to the Montreal Protocol (via InforMEA)
Budget$965m2024–2026

What was measured

Benefit measured

The peer-reviewed 2022 WMO/UNEP assessment, an independent measurement of the atmosphere, found that the abundance of ozone-depleting substances is declining and that Antarctic ozone recovery continues to progress, and credits actions under the Montreal Protocol; it does not separate the Multilateral Fund's contribution from the Protocol's. The Fund's own phase-out total (510,094 ODP tonnes) is the Fund's figure and not independent, and the 2004 evaluation's phase-out figures were projections. A 2018 Nature paper found unreported new CFC-11 production after 2012.

Total chlorine entering the stratosphere
declined by 420 ± 20 ppt (11.5%)
Antarctic ozone
recovery continues to progress
NASA summary of the 2022 assessment; Arctic trend not statistically significant for 2000 to 2021 NASA Science
ODS phased out, Fund's figure
510,094 ODP tonnes since 1991
CFC-11 emissions after 2012
increase of 13 ± 5 Gg per year
Montzka et al. 2018 Nature (Springer Nature)

Operation Ongoing · A replenishment of 965 million dollars was set for 2024-2026. Thirty-Fifth Meeting of the Parties to the Montreal Protocol (via InforMEA)

Findings on record

  • Official audit ICF Consulting, external evaluation of the financial mechanism, circulated by the Ozone Secretariat for the Parties (2004-10-05) · UNEP/OzL.Pro.16/11, Evaluation of the financial mechanism of the Montreal Protocol: Executive summary: “The Multilateral Fund has been very successful in phasing out ODS and enabling compliance of Parties operating under Article 5 of the Montreal Protocol” Ozone Secretariat, UNEP (note by the Secretariat)
  • Peer-reviewed study WMO/UNEP Scientific Assessment Panel (chapters peer-reviewed) (2022) · Scientific Assessment of Ozone Depletion: 2022, Executive Summary: “the Montreal Protocol continues to be effective at reducing the atmospheric abundance of ODSs” WMO / UNEP / NOAA / NASA / European Commission (hosted by NOAA Chemical Sciences Laboratory)
  • Peer-reviewed study Montzka et al., Nature (peer-reviewed) (2018-05-17) · Nature 557, 413-417: “this suggests unreported new production, which is inconsistent with the Montreal Protocol agreement to phase out global CFC production by 2010” Nature (Springer Nature)

Who gained

Money that reached nature, beside money that stayed elsewhere.

Reached nature or the ground

Not published
No figure published.

Gained elsewhere

Not totalled
Currency: USD · Window: 1991–2025. All figures cover the same period. * Estimate built from cited figures.

Responses on record

  • Multilateral Fund (undated page, read 21 October 2026): States that it "has contributed to the successful implementation of the Montreal Protocol and gone beyond" and reports 510,094 ODP tonnes phased out and 10,584 approved projects. · Multilateral Fund for the Implementation of the Montreal Protocol
  • Executive Committee of the Multilateral Fund (May 2025): Approved an evaluation policy for the Fund at its 96th meeting in May 2025; the Fund's evaluation page lists a final report on the external assessment of its evaluation function (9 October 2024) and a management response. · Multilateral Fund for the Implementation of the Montreal Protocol

In court and with insurers

Every proceeding and every insurer decision on record.

Lawsuits and rulings

No court case on record. No court has ruled on this case.

Insurers

No insurer decision on record.

What nature saw

Outcomes measured on the ground, and nature's note.

Nature's report opens this page. Below: further outcomes measured on the ground.

ODS phased out since 1991, Fund's figure
510,094 ODP tonnes
Multilateral Fund page; not independently verified
Total chlorine entering the stratosphere
declined by 420 ± 20 ppt (11.5%)
WMO/UNEP 2022 assessment; 1993 peak 3660 ppt, 2020 value 3240 ppt on the page
Antarctic total column ozone return to 1980 values
around 2066 (expected)
WMO/UNEP 2022 assessment; Arctic about 2045, near-global around 2040
CFC-11 emissions after 2012
increase of 13 ± 5 Gg per year
Montzka et al., Nature 2018; reported production close to zero since 2006

What we don't know

Undisclosed, unproven, untried: recorded as data.

Nature

  • Not measured Harm to nature: The record holds no measurement of harm to nature.
  • Disputed Whether ozone-depleting-substance production continued after the agreed phase-out

Figures

Accounts

Record

  • Self-reported only None on record: an independent verification of the Fund's total of 510,094 ODP tonnes phased out. The sources reviewed contain the Fund's own figure and the projections in the 2004 evaluation.
  • Not measured Not measured: the share of the atmospheric change in ozone-depleting substances that is attributable to the Multilateral Fund as distinct from the Protocol as a whole; the 2022 assessment does not mention the Fund.
  • Disputed Disputed: totals on the Fund's own pages differ. The impact page gives US$4,489,718,894 approved (to 2025) and "US$4.5 billion" (as of June 2026); the homepage gives "$4.3 BN" and 10,198 projects against 10,584. The pages do not explain the difference.
  • None on record None on record: the amount of contributions unpaid today. The 2004 evaluation recorded that 20 of 51 donors had outstanding contributions for 1991 to 2003.
  • Unclear Unclear: the content of the October 2024 external assessment of the Fund's evaluation function, which the Fund lists on its evaluation page.

Did the harm stop?

The 2022 WMO/UNEP assessment reports that the atmospheric abundance of ODSs is declining and that unexpected CFC-11 emissions identified after 2012 appear largely to have ended; it detected no statistically significant Arctic ozone trend for 2000 to 2021.

Who paid?

Contributing (Article 2) countries pay into the Fund: the 2004 evaluation recorded nearly US$1.6 billion paid by December 2003, and the Fund reports US$5,142,603,539 pledged cumulatively to 2025. Decision XXXV/1 set a 2024-2026 replenishment of 965 million dollars, including 525.6 million dollars of new contributions.

Sources

Voices on record: — Company or project✓ Government and regulators— Courts— Press and investigations— Communities and civil society✓ Researchers✓ International bodies

Government and regulators

Researchers

  1. Scientific Assessment of Ozone Depletion: 2022, Executive Summary
    WMO / UNEP / NOAA / NASA / European Commission (hosted by NOAA Chemical Sciences Laboratory) · 2022

International bodies

  1. Our impact (Multilateral Fund)
    Multilateral Fund for the Implementation of the Montreal Protocol · n.d. (read 2026-10-21)
  2. Multilateral Fund homepage
    Multilateral Fund for the Implementation of the Montreal Protocol · n.d. (read 2026-10-21)
  3. Evaluation (Multilateral Fund)
    Multilateral Fund for the Implementation of the Montreal Protocol · n.d. (read 2026-10-21)
  4. Decision XXXV/1: Replenishment of the Multilateral Fund for the Implementation of the Montreal Protocol for the triennium
    Thirty-Fifth Meeting of the Parties to the Montreal Protocol (via InforMEA) · 2023-10-27

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