Technology and manufacturing group Honeywell is destroying inventories of ozone-depleting refrigerants amounting to more than 125,000 emission reduction credits that it intends to sell to third parties as part of California’s greenhouse gas cap-and-trade program.
The company said it had previously destroyed more than 27,000 pounds of CFC-11, a chlorofluorocarbon refrigerant, and it plans to destroy its remaining inventory of CFC-11 along with CFC-12 and R-500 refrigerants this year.
Honeywell’s destruction of these CFCs will be equivalent to eliminating over 125,000 metric tons of carbon dioxide emissions, with each ton being equivalent to a Climate Reserve Tonne which can be sold under the Californian cap-and-trade program.
The sale of the credits will offset the cost of destroying the CFC’s.
California has set a cap on emissions from electric utilities and large industrial facilities in the state of about 2 percent below the emissions level forecast for 2012 starting 2013. CRT’s can be bought by these facilities to help them meet their obligations.
Honeywell partnered with MGM Innova Consulting, which provides companies with low carbon solutions and services, to ensure the materials were destroyed in compliance with the Climate Action Reserve’s U.S. ODS Project Protocol.
The Climate Action Reserve is a national offsets program that sets standards for greenhouse gas emissions reduction projects. It issues CRT credits generated from such projects and tracks the transaction of the credits over time.
The results were verified by TUV-SUD, a third-party auditing firm. – EcoSeed Staff