U.S. ratifies global treaty to curb climate-warming chemicals in air conditioning, refrigeration

U.S. ratifies global treaty to curb climate-warming chemicals in air conditioning, refrigeration


U.S. Senate Majority Leader Chuck Schumer (D-NY) speaks to the media after the 51-50 vote passed the “Inflation Reduction Act of 2022” on Capitol Hill in Washington, D.C., U.S. August 7, 2022. 

Ken Cedeno | Reuters

The Senate has voted to ratify a global climate treaty that will phase down the use and production of hydrofluorocarbons, or HFCs, the climate-warming chemicals widely used in air conditioning and refrigeration.

The Senate voted 69-27 on Wednesday to move forward the 2016 Kigali Amendment, an amendment to the 1987 Montreal Protocol climate treaty that dramatically curbs the use of HFCs, which are thousands of times more potent than carbon dioxide at heating up the Earth. Forty-eight Democrats and 21 Republicans voted in favor; four members of the Senate did not vote.

The Environmental Protection Agency has said that regulatory action on such chemicals could help avoid up to 0.5 degrees Celsius of global warming by the end of the century. Emissions from HFCs rose between 2018 and 2019, according to the EPA, as demand for air conditioning and refrigeration rose amid record high temperatures in the U.S.

“This is a win-win in our fight against climate change and will go a long way to battle rising global temperatures while also creating tens of thousands of good-paying American jobs,” Senate Majority Leader Chuck Schumer, D-N.Y., said Wednesday.

Shortly after taking office, President Joe Biden issued an executive order requesting that Congress ratify the Kigali Amendment, among a series of other federal actions to reduce domestic greenhouse gas emissions. 

The U.S. joins 136 other nations and the European Union in ratifying the amendment.

“Ratifying the Kigali Amendment will allow us to lead the clean technology markets of the future, by innovating and manufacturing those technologies here in America,” Biden said in a statement. “Ratification will spur the growth of manufacturing jobs, strengthen U.S. competitiveness and advance the global effort to combat the climate crisis.” 

Environmental groups, politicians and industry groups have largely supported the worldwide phase-down of HFCs as a critical way to combat climate change and advance more sustainable technologies.

“HVACR companies and other stakeholders, from business to environmental groups, have urged the Senate to ratify the strongly bipartisan Kigali Amendment,” said Stephen Yurek, CEO for the Air-Conditioning, Heating and Refrigeration Institute.

“[Kigali] counts for the jobs it will create; it counts for global competitive advantage it creates; it counts with the additional exports that will result and it counts for U.S. technology preeminence,” Yurek said.

Congress in 2020 passed the American Innovation and Manufacturing Act as part of an appropriations bill, allowing the EPA to start regulating the chemicals and force industries to curb production and imports of HFCs by 85% over 15 years.

Clean energy stocks jump after passage of Inflation Reduction Act



Source

Auto executives are hoping for the best and planning for the worst in 2026
Business

Auto executives are hoping for the best and planning for the worst in 2026

U.S. President Donald Trump and CEO of Ford Jim Farley clap, as President Trump visits a Ford production center, in Dearborn, Michigan, U.S., January 13, 2026. Evelyn Hockstein | Reuters DETROIT — The only consistency has been inconsistency for the U.S. automotive industry during the first half of this decade — a trend that’s expected […]

Read More
Sen. Warren blasts CFPB director for undermining Trump’s credit card affordability push
Business

Sen. Warren blasts CFPB director for undermining Trump’s credit card affordability push

U.S. Senator Elizabeth Warren (D-MA) and Director of the United States Office of Management and Budget, Russell Vought. Kevin Mohatt | Kevin Lamarque | | Reuters Sen. Elizabeth Warren on Friday accused the acting head of the Consumer Financial Protection Bureau of undermining President Donald Trump’s stated push to make credit cards more affordable, according […]

Read More
Why a niche category of CRE lending is suddenly seeing record deals
Business

Why a niche category of CRE lending is suddenly seeing record deals

Wepro | Moment | Getty Images A version of this article first appeared in the CNBC Property Play newsletter with Diana Olick. Property Play covers new and evolving opportunities for the real estate investor, from individuals to venture capitalists, private equity funds, family offices, institutional investors and large public companies. Sign up to receive future editions, straight […]

Read More