Global treaty signed to ban hfc refrigerants _ treehugger stock market risk
The Montreal protocol is a model of cooperation. Us market risk premium 2016 It is a product of the recognition and international consensus that ozone depletion is a global problem, both in terms of its causes and its effects. Market price risk The protocol is the result of an extraordinary process of scientific study, negotiations among representatives of the business and environmental communities, and international diplomacy. Market risk premium south africa 2016 It is a monumental achievement.
The Chlorofluorocarbons (CFCs) were the cause of a giant hole in the ozone layer, which has been shrinking ever since. Market risk management Unfortunately, the replacement chemicals, hydrofluorocarbons (HFCs) had their own major problem: they are a seriously bad greenhouse gas, far worse than Carbon Dioxide. Market risk capital rule ( Christine explains here) Also in the period
between the Montreal Protocol and today, the use of air conditioning has exploded in the developing world as the middle class grows, and in the developed world as it gets hotter.
But this past weekend an agreement was reached to reduce and eventually replace HFCs by over 170 countries, including 100 developing countries like China and India where air conditioning use is growing fastest. Market risk var This time, President Barack Obama called it “an ambitious and far reaching solution” to a “rapidly growing threat to the health of our planet”.
Of course, since he is Barack Obama and not Ronald Reagan, he is accused of banning air conditioning when people need it most, when at the same time they say global warming is a myth. Market risk premium us There is a petition to ban air conditioning in the State Department and the White House so that Obama and Kerry can feel what it is like. Risk management system in stock market Even the New York Times jumped on the bandwagon, titling a story Emerging Climate Accord Could Push A/C Out of Sweltering India’s Reach as if nobody in India will ever be able to get an air conditioner again.
But the fact of the matter is that they could get everyone to sign this (Including India) because it is, unlike the totality of global warming, something that can be technically solved. Market risk career path It’s chemistry; they used to make AC units with ammonia or propane but they were poisonous or explosive when things went wrong. Market risk career Now some units are being made with butane and pentane mixes, But as TreeHugger emeritus John Laumer notes,
Refrigerant makers like Honeywell and Dupont have lobbied through ASRAE and USEPA to preclude these blends being used on the bogus claim that there is a fire hazard and a quantifiably unacceptable risk. Equity risk premium australia 2015 Meanwhile, across the kitchen sits a gas stove with infinite leak potential and somehow that can be engineered to be safe enough. Subject to market risk In fact this is simply a market protection lobbying outcome as the petroleum gas blends are made of commonly available components that any tiny supplier could formulate. Market risk management ppt Refrigerant equipment makers somehow are fine with it and I have a hunch products liability insurers are part of the cartel. Market risk analyst salary singapore Better design could easily solve the whole problem world wide.
CFCs and HFCs are demonstrably safer, but other chemicals can be formulated to do the job. Global solutions network Carbon Dioxide systems have been developed and shown on TreeHugger . Us market risk premium Solid state systems are getting better and may eliminate the need for refrigerants altogether. Market liquidity risk management Many manufacturers are have been seeing the writing on the wall for years and have been working on it; According to the Wall Street Journal,
Alternative coolants exist to power window-unit air conditioners, commercial chillers and household refrigerators, but many are unapproved for use in the U.S. Market risk jobs singapore Some are flammable. Market risk in banks Manufacturers will have to convince regulators the new compounds are safe before retooling production. Global solutions group “It’s not going to be easy, but we’re committed to doing it,” said Stephen Yurek, chief executive of the Air-Conditioning, Heating, and Refrigeration Institute, a trade group. Managing the risks of organizational accidents Many companies anticipated that so-called HFCs would eventually be banned. Market risk management in banks ppt They have collectively spent billions of dollars researching alternatives, Mr. Global solutions Yurek said, adding that his group supported a global framework for coolant regulations.
It’s a monumental step forward that addresses the needs of individual nations but it will give us the opportunity to reduce the warming of the planet by an entire half a degree centigrade. Definition of stock market Agreeing a deal to phase down the use of HFCs is the single most important step we can take to limit the warming of the planet. Market risk reporting We all know that the window of time that we have to prevent the worst climate impacts from happening is in fact narrowing, and it is closing fast.
That seems to be a bit hyperbolic; this is a big deal, according to the NRDC it is “equal to stopping the entire world’s fossil-fuel CO2 emissions for more than two years,” but it is not like anybody has to give anything up, change their lifestyle or move from Phoenix to Detroit. Risk in stock market They have until 2024 to even start phasing HFCs out, which will take decades.