Washington, DC - May 29, 2014 (Investorideas.com renewable energy stocks newswire) China announced an aggressive target for reducing emissions of hydrofluorocarbons (HFCs) by the equivalent of 0.28 billion tonnes of CO2 by 2015. The State Council released the HFC target to the public on 26 May 2014. It appeared on 15 May 2014 in the 2014-2015 Energy Conservation, Emissions Reduction and Low Carbon Development Action Plan.
China's announcement follows two HFC agreements President Obama and President Xi negotiated last year, including an agreement to launch formal negotiations to reduce production and consumption of HFCs under the Montreal Protocol. The 20 largest economies also endorsed phasing down HFCs under the Montreal Protocol last year, leaving accounting and reporting in the UN Framework Convention on Climate Change.
On May 16, the Federated States of Micronesia filed a formal proposal to use the Montreal Protocol to phase down production and consumption of HFCs under the Montreal Protocol, and the North American countries (US, Canada, and Mexico) filed a similar proposal on May 9.
The US also is taking strong action to reduce HFCs domestically, as is the EU. HFCs are super greenhouse gases hundreds to thousands of times more potent in their warming impact than carbon dioxide, and are the fastest growing climate pollutants in many countries, including the U.S. EU, China, and India. Fast reductions by 2020 could provide the equivalent of up to 200 billion tonnes of CO2 in mitigation by 2050, and avoid up to 0.5°C in warming by 2100.
"China should be congratulated for its strong HFC target, which sets an example for the rest of the world to get on with the job of phasing out HFCs with high global warming potential," stated Dr. Stephen O. Andersen, former Environmental Protection Agency (EPA) liaison to the Department of Defense (DoD) for climate and ozone, and former co-chair of the Technology & Economic Assessment Panel of the Montreal Protocol. "China's action makes it increasingly inevitable that HFCs will be phased down under the Montreal Protocol, and soon."
Published at the Investorideas.com Newswire - Big ideas for Global Investors
Disclaimer/ Disclosure:The Investorideas.com newswire is a third party publisher of news as well as creates original content as a news source. Original content created by investor ideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news and global syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions and advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers.
BC Residents and Investor Disclaimer: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.