The gateway to
environmental law

Search results » Treaty decision

Information on this section of ECOLEX comes from the InforMEA Portal which compiled information from MEA Secretariats with the support of the European Union. The accuracy of the information displayed is the responsibility of the originating data source. In case of discrepancy the information as displayed on the respective MEA website prevails.

Decision XXXV/2: Extension of the fixed-exchange-rate mechanism to the 2024-2026 replenishment of the Multilateral Fund

Document type: Decision
Reference number: XXXV/2
Date: Oct 27, 2023
Source: UNEP, InforMEA

Status: Active
Subject: Waste & hazardous substances, Air & atmosphere
Treaty: Montreal Protocol on Substances that Deplete the Ozone Layer (Sep 16, 1987)
Meeting: Thirty-Fifth Meeting of the Parties
Website: ozone.unep.org

Abstract

To direct the Treasurer to extend the fixed-exchange-rate mechanism to the period 2024–2026;
That parties choosing to pay their contributions to the Multilateral Fund for the Implementation of the Montreal Protocol in national currencies will calculate their contributions based on the average United Nations exchange rate for the six-month period commencing 1 January 2023;
That, subject to paragraph 4 below, parties not choosing to pay in national currencies pursuant to the fixed-exchange-rate mechanism will continue to pay in United States dollars;
That no party should change the currency selected for its contribution in the course of the triennium 2024–2026;
That only parties with inflation rate fluctuations of less than 10 per cent for the preceding triennium, pursuant to published figures of the International Monetary Fund, will be eligible to use the fixed-exchange-rate mechanism;
To urge parties to pay their contributions to the Multilateral Fund in full and as early as possible, in accordance with paragraph 7 of decision XI/6;
To agree that if the fixed-exchange-rate mechanism is to be used for the replenishment period 2027–2029, parties choosing to pay their contributions in national currencies will calculate their contributions based on the average United Nations exchange rate for the six-month period commencing 1 January or 1 July and ending at least three months prior to the replenishment that is to be decided.