In 2016, the Kigali Amendment updated the Montreal Protocol to gain global commitment to the phasedown of HFCs. Developed countries, like the United States, will be required to begin reducing HFC production and import of HFCs in 2019. This reduction is expected to correlate to increased HFC prices, especially those with high GWP.
Parties to the Montreal Protocol met last month to negotiate a global phase down of hydrofluorocarbons (HFCs). John Kerry called the agreement, “one of the single most important unitary steps that we could possibly take at this moment to stave off the worst impacts of climate change…”