Credits created from this methodology represent carbon emission reductions from the displacement of virgin HFCs with reclaimed and reused HFCs. For this first-in-kind project, recovered HFCs were purified at Hudson Technologies back to virgin-grade standards and sold into the refrigerant aftermarket for reuse. Demand for the credits provides an economic incentive for refrigerant reclaimers to recover and reclaim HFCs, preventing new HFC production and eventual emissions to the atmosphere.
The need for global action on HFC emissions has been widely acknowledged. The Parties to the Montreal Protocol are creating a gradual phasedown plan of HFC production, and many companies have committed to phase out their use of HFCs in newly manufactured equipment, consistent with regulatory initiatives by the U.S. EPA and the European Union. The proposed production phase down will take years and does not address millions of pounds of HFC refrigerant currently in use. If even 30% of HFC refrigerants are reclaimed for re-use by 2030, the equivalent of approximately 18 billion metric tons carbon dioxide (CO2) would be prevented from reaching the atmosphere over the next 25 years outlined in a white paper authored by EOS. "EOS Climate is excited about the complementary role HFC recycling can play throughout the global phasedown of these powerful greenhouse gases," said Jeff Cohen, SVP Policy of EOS Climate.
About EOS Climate:
Founded in 2009, EOS Climate is a market leader in delivering high-quality verified emission reductions. To date, our solutions have delivered over 5 million metric tonnes of verified emission reductions in the North American market. EOS Climate's focus has been creating market incentives for responsible life-cycle management of fluorochemical refrigerants and other commodities with high global warming potential. EOS continues to develop innovative market-based solutions to address the challenges of climate change. To learn more, please visit www.eosclimate.com.
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SOURCE EOS Climate