European Parliament adopts new regulation to eliminate 500 million tonnes of GHG emissions
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The European Council has recently approved new legislation designed to progressively decrease the use of potent greenhouse gasses such as fluorinated gasses (F-gasses) and ozone-depleting substances (ODSs). These gasses represent over 3% of the EU's total current greenhouse gas emissions.
“[This directive] will eliminate an additional 500 million tonnes of CO2-equivalent emissions by 2050, which is comparable to the combined annual emissions of France and Belgium” - from the European Commission’s official press release.
The new rules mandate a complete phase-out of hydrofluorocarbons (HFCs) by 2050 and a 95% reduction by 2030 compared to 2015 levels. They will also restrict the use of all F-gasses in equipment where environmentally friendly alternatives are available.
Additionally, an export ban has been instituted to deter the export of outdated equipment containing high global warming potential gasses to non-EU nations and instead promote eco-friendly options – meaning this legislation will have impacts beyond the EU.
Wopke Hoekstra, the EU Commissioner for Climate Action, called these new rules “the most ambitious in the world.”
The rules have cleared all of the legislative hurdles necessary for adoption, and will enter into force 20 days after they are published in the Official Journal of the Union.
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The bottom line
It may be a long way until the mandated phase-out by 2050, but because the new regulations encourage companies to start the phase-out now, companies should begin accounting for and minimizing their use of F-gasses and ODSs. In addition, the legislation’s focus on specific GHG gasses should motivate companies to seek precise, granular emissions accounting tools.
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