International. Up to US$385 million will be received by China to end production of the R22 refrigerant. Money from the Montreal Protocol Multilateral Fund is designed to help ensure that by 2013 the total elimination of China's industrial production of ozone-depleting substances is completed.
China has pledged to withdraw its current HCFC production capacity and will also withdraw surplus production capacity that is currently unused.
According to the Chinese, the total amount of HCFCs to be eliminated will avoid the emission of more than 4.3 million tons, equivalent to 300,000 tons in terms of its ozone-depleting potential, and 8 billion tons of carbon dioxide equivalent to greenhouse gas emissions.
With China being the largest producer and consumer of HCFCs, this is potentially considered to be the largest project approved so far under the Multilateral Fund since its inception.
