How much will it cost to accelerate the HCFC phase-out?
Preliminary estimates on the cost of accelerating the HCFC phase-out range from U.S. $1-3 billion, but further evaluation is needed to determine amore precise estimate. In terms of value, this is one of the most cost effective reductions in GHG emissions available. By comparison, under the European Union’s climate program, the EU Emissions Trading System, public and private sectors spent more than U.S.$30 billion to reduce 1.6 GtCO2-eq. in 2006. Developed countries have signaled a willingness to provide financial and technical assistance to developing countries to make the transition out of HCFCs, through the Montreal Protocol’s financial mechanism. The formal negotiations on funding are scheduled to take place in 2008.
