UNEP’s Green Economy Initiative is seeking to engage governments, institutions and individuals to promote this ‘green’ shift in economic thinking, investment and resource management. UNEP defines a Green Economy as one that results in improved human wellbeing and social equity, while significantly reducing environmental risks and ecological scarcities. A Green Economy is characterized by substantially increased investments in economic sectors that build on and enhance the earth’s natural capital or reduce ecological scarcities and environmental risks. These sectors include renewable energy, low-carbon transport, energy-efficient buildings, clean technologies, improved waste management, improved freshwater provision, sustainable agriculture, forestry, and fisheries. These investments are driven by, or supported by, national policy reforms and the development of international policy and market infrastructure.
Since coming into force in 1987, the implementation of the Montreal Protocol has reduced the production and consumption of nearly 100 industrial chemicals known as ozone depleting substances (ODS) by more than 97%. This Protocol has had the additional benefit of reducing greenhouse gas emissions by about 11 billion tonnes CO2-equivalent per year (GtCO2-eq/yr). Through the technology transfer under the Multilateral Fund as well as independent efforts by governments and industry outside of the Protocol, it has contributed to the “greening” of economies in both Article 5 (i.e. developing) and non-Article 5 countries (i.e. developed).
The time is right to highlight the contribution of this multilateral environmental agreement (MEA) and to inject it into the current Green Economy debate. The results of UNEP OzonAction’s study on the Montreal Protocol’s contribution to Green Economy will be presented and cover the following aspects: 
– Institutional strengthening of Government bodies
– Research, development and technology innovation
– Good servicing practices and recovery & recycling
– Manufacturing of chemicals and equipment
– Trade of chemicals and equipment
– Employment creation
– Stimulation of new industry sectors.
– Contribution to GDP.
– Energy security or energy efficiency
– Consumer benefits
– Health and ecosystem benefits.
– Climate change mitigation
– Transfer of cleaner technologies
– Policy development
– Capacity building, training and awareness
The knowledge and awareness of these positive and zero-cost side effects of Montreal Protocol implementation is expected to ensure continued support and funding for the remaining challenge of the Montreal Protocol – the HCFC phase-out in 2030 in developing countries and in 2020 in developed countries.