Innovative Market Solution From EOS Climate Curbs Carbon Emissions From HFCs
HFC credits demonstrate EOS Climate's continued efforts to address climate challenges
SAN FRANCISCO, April 27, 2016 /PRNewswire/ -- A new innovation to address climate change is being applied to high global warming potential (GWP) chemicals used for refrigeration and cooling in tens of millions of homes, office buildings, supermarkets, and automobiles. EOS Climate just completed the first project to generate Verified Emission Reductions (VERs), also known as carbon credits, from the reclamation and re-use of hyrdofluorocarbon (HFC) refrigerants. EOS authored the methodology, approved by the American Carbon Registry, to support global goals to limit HFC refrigerants from reaching the atmosphere. "EOS Climate has a long history of bringing together experts in refrigerants, supply chain management, environmental policy, technology and environmental commodities to create market-based solutions to climate challenges," said Joe Madden, CEO of EOS. EOS also originated the successful protocol (ISO 14064-2) for the destruction of ozone depleting substances ultimately adopted by the California Air Resources Board Compliance Offset Program.
The HFC credits provide a new option for companies who use large commercial refrigeration equipment to take immediate action on HFC emissions while transitioning equipment to lower GWP alternatives. Hannaford Supermarkets, a buyer participating in this first project, plans to test how the VERs enhance their transition plans and differentiate the company as an environmental leader. "Reclaimed HFC VERs are a promising instrument to assist our efforts to mitigate HFC emissions from our refrigeration equipment while phasedown plans are completed," said Harrison Horning, Director of Energy and Facilities for Hannaford Supermarkets.
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.
EOS Climate Media Contact:
Sarah McGee
[email protected]
800-764-8093
SOURCE EOS Climate
Share this article