HFC-23 Carbon Credits

What is HFC-23?

HFC-23 is a by-product of the manufacture of a refrigerant (HCFC-22) which has a powerful greenhouse effect. It has been banned by the Montreal Protocol whilst developing countries were authorised by the same protocol to use a cheaper substitute (HCFC-22) for another 20 years.

Why are CDM HFC-23 projects a problem?

The voluntary destruction projects of the HFC-23 are recognised by the Clean Development Mechanism (CDM). Due to their low cost and emissions reduction capacity, these projects are highly profitable for the industry. Notwithstanding the principles of the Montreal Protocol, the high profit of  HFC-23 generates an incentive to continue its production.

What is Noé21’s contribution?

In April 2010, Noé21 filed a request for revision of UNFCCC’s methodology, demanding to reduce the incentive of CDM HFC-23 production. The request was accepted by the Executive Board as of 01.04.2013. The European Commission has announced that it will no longer purchase HFC-23 projects.