SAN FRANCISCO — EOS Climate announced it has completed its first project to generate Verified Emission Reductions (VERs), also known as carbon credits, from the reclamation and reuse 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 global warming potential (GWP) alternatives. Hannaford Supermarkets, a buyer participating in this first project, plans to test how the VERs enhance its 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 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. Environmental Protection Agency (EPA) and the European Union.
“EOS Climate is excited about the complementary role HFC recycling can play throughout the global phasedown of these powerful greenhouse gases,” said Jeff Cohen, senior vice president, policy of EOS Climate.
For more information, visit www.eosclimate.com.
Publication date: 5/13/2016