The parties agreed to first resolve the challenges including lack of data, identified under the "Dubai Pathway on HFCs" adopted last year.
HFCs are used in air conditioning, refrigeration, foams and aerosols as replacement for many ozone depleting substances.
"An agreement to phase down HFCs under the Montreal Protocol would avoid an estimated 105 gigatonnes of carbon dioxide equivalent by 2050, and up to 0.4 C of global warming by the end of the century, while continuing to protect the ozone layer," the negotiators said.
The Extraordinary Meeting will include a ministerial roundtable focusing on how Montreal Protocol parties can move forward in 2016 to deliver on the mandate of the "Dubai Pathway on HFCs".
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Indian delegation will participate in the discussions along with ministers and high-level participants from Bahrain, Canada, Indonesia, Nigeria, Sri Lanka, the US, United Nations and others.
"The parties will discuss issues related to alternatives to ozone-depleting substances, terms of reference for a study on the funding needed for the replenishment of the Multilateral Fund for the Implementation of the Montreal Protocol for the 2018-2020 period," an official statement said.
Earlier in the day, India had pitched for formation of guidelines for enhancing flexibility, developing methodologies and ensuring transparency in phasing out of Hydrofluorocarbons (HFCs) for limiting increase in Global warming.