HFCs, whose emissions are increasing rapidly, are potent greenhouse gases mainly emitted in the refrigeration, air conditioning, cooling and foam for insulation sectors. The Kigali Amendment (KA) to the Montreal Protocol in 2016 defined a schedule for phasing down HFCs by the mid-2040s. The KA’s interplay with the Paris Agreement should be carefully conceptualised at this crucial stage of rule development. In this context, in a study commissioned by GIZ, Perspectives’ authors discuss how to finance HFC mitigation beyond the KA commitments. They propose an integrated approach of public finance and international market mechanisms under Article 6 of the Paris Agreement. The study demonstrates that synergies can be exploited to raise ambition and mobilize finance for early action in HFC mitigation, while environmental integrity must be preserved through safeguards.
You can find the discussion paper here.