A “climate bomb” of potent greenhouse gases 15,000 times more damaging to the climate than carbon dioxide is set to be released by some of the leading producers of refrigerants following a ban on climate credits.
The companies, the majority of them in China, argue that a ban on trading of climate credits for the incineration of HFC-23 makes it no longer financially viable to destroy the gas, which is a byproduct of a substance used in air conditioners and refrigerators.
A warning by the Environmental Investigation Agency in a report to be released today will raise the pressure on China to ban such gases and end economic incentives for their production in multilateral talks.
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