The Financial Times reports:
A “climate bomb” of potent greenhouse gases 15,000 times more damaging to the climate than CO2 are set to be released by some of the world’s 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.
The EIA said an investigation had shown that most of China’s non-CDM facilities were emitting HFC-23 already. “If all of these facilities [under the CDM] join China’s non-CDM and vent their HFC-23, they will set off a climate bomb emitting more than 2bn tonnes of CO2 equivalent emissions by 2020,” it said.