(Financial Times) -- A "climate bomb" of potent greenhouse gases 15,000 times more damaging to the climate than carbon dioxide is set to be released by some of the world's leading producers of refrigerants following a ban on climate credits.|
The companies, the majority of them in China, argue that a ban on trading of climate credits for the incineration of HFC-23 makes it no longer financially viable to destroy the gas, which is a byproduct of a substance used in air conditioners and refrigerators.
An executive at China Fluoro Technology, one of the largest Chinese CDM plants, said: "Our company is still incinerating the HFC-23 now. If the money is used up, we can stop incineration. We can't go on doing this, we can't afford it and we have no duty to do it."
OOOPs No duty? Can't afford it?