Key Takeaways:

• Hydrofluorocarbon (HFC) projects represent a significant near-term cooling opportunity—some HFCs have a global warming potential over 12,000 times greater than carbon dioxide. 
• We expect to see a decrease in HFC replacement issuances as countries phase down the production and use of HFCs as part of the Montreal Protocol. 
• We expect to see an increase in HFC destruction issuances, with five new methodologies developed over the past two years. Projects in developing countries present the largest opportunity, as regulations will be slower to develop in such countries.