WILMINGTON, Del., Nov. 13, 2015 /PRNewswire/ -- The Chemours Company ("Chemours") (NYSE: CC), a global chemical company with leading market positions in titanium technologies, fluoroproducts and chemical solutions, praises a critical United Nations decision to address climate change. Thierry F.J. Vanlancker, president, Chemours Fluoroproducts, said the following today regarding the agreement.
"Chemours congratulates the United Nations for its recent decision to work within the Montreal Protocol to an HFC amendment in 2016.
"The Montreal Protocol has already been hailed as the world's most effective climate treaty by reducing ozone depleting substances and their CO2 equivalent emissions nearly twenty times more than the initial commitment period of the Kyoto Protocol.
"Chemours recognizes the need for concerted action to avoid significant growth in greenhouse gas emissions associated with the use of HFCs in different applications. The Protocol provides a proven, consistent, and well understood framework that allows the global community to greatly reduce greenhouse gas emissions while ensuring that consumers and businesses experience a smooth transition to newer, more sustainable products.
"Many of the governments of the world, including the European Union, Canada, Japan, Australia, and United States, have already started efforts to reduce the use of HFCs, which have high global warming potential. Coordinating these efforts will provide a much more effective model. Such efforts are increasingly possible due to the availability of viable, cost-effective options that deliver significant reductions in direct and indirect greenhouse gases through superior energy efficiency.
"That is why Chemours has already commercialized our Opteon™ product line for use in applications such as refrigeration, air conditioning, foam insulation and waste heat recovery. It is critical that all stakeholders work to meet sustainability goals while ensuring cost-effective solutions and without limiting global trade.
"Chemours has invested hundreds of millions of dollars in the development of hydrofluorolefin (HFO)-based alternatives and blends with low global warming potential. Such alternatives can replace products with high-global warming potential, while providing the same critical benefits to customers and consumers.
"Equipment manufacturers are developing equipment that can use the new alternatives and companies are reformulating foams and other products with the new HFO-based alternatives. In addition to lowering the potential global warming impact of products and applications, these new solutions from Chemours offer additional benefits such as increased energy efficiency.
"As Chemours announced last month at the 2015 White House Hydrofluorocarbon Roundtable, we estimate that use of our HFO-based solutions will achieve a reduction of 300 million CO2 ton equivalents by 2025. Our Opteon™ product line is the key to this reduction, and will be instrumental to enabling further reductions that would be achieved through a Montreal Protocol amendment. "
About The Chemours Company
The Chemours Company (NYSE: CC) helps create a colorful, capable and cleaner world through the power of chemistry. Chemours is a global leader in titanium technologies, fluoroproducts and chemical solutions, providing its customers with solutions in a wide range of industries with market-defining products, application expertise and chemistry-based innovations. Chemours ingredients are found in plastics and coatings, refrigeration and air conditioning, mining and oil refining operations and general industrial manufacturing. Our flagship products include prominent brands such as Teflon™, Ti-Pure™, Krytox™, Viton™, Opteon™ and Nafion™. Chemours has approximately 8,400 employees across 36 manufacturing sites serving more than 5,000 customers in North America, Latin America, Asia-Pacific and Europe. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC. For more, information please visit chemours.com or follow Chemours on Twitter at @chemours.
This press release contains forward-looking statements, which often may be identified by their use of words like "plans," "expects," "will," "believes," "intends," "estimates," "anticipates" or other words of similar meaning. These forward-looking statements address, among other things, our anticipated future operating and financial performance, business plans and prospects, transformation plans, resolution of environmental liabilities, litigation and other contingencies, plans to increase profitability, our ability to pay or the amount of any dividend, and target leverage that are subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements are not guarantees of future performance and are based on certain assumptions and expectations of future events which may not be realized. The matters discussed in these forward-looking statements also are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those projected, anticipated or implied in the forward-looking statements as further described in the "Risk Factors" section of the information statement contained in the registration statement on Form 10 and other filings made by Chemours with the Securities and Exchange Commission. Chemours undertakes no duty to update any forward-looking statements.
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SOURCE The Chemours Company