Chemical Mulitnationals Bet on Climate Solutions

How the Chemical Industry Joined the Fight Against Climate Change

Hiroko Tabuchi and Danny Hakim, October 16, 2016 (NY Times)

“It might seem surprising to find the world’s chemical companies on the front lines of preventing climate change, fighting to disrupt their own industries…[But] companies including Honeywell and DuPont were among the most active backers of a move away from [hydroflurocarbons (HFCs)], a profitable chemical that has long been the foundation for the fast-growing air-conditioning and refrigeration business…The companies were driven less by idealism than by intense competition, and a bet that they could create more environmentally friendly alternatives…[and] some environmentalists say the aggressive move…provides a template for other industries…The chemical industry’s response stands in stark contrast to the foot-dragging, and in many cases the outright obstruction of climate regulations, by…the [Exxon Mobil, Chevron and other oil giants’] lobbying against rules to curb greenhouse gases for decades, even though their own researchers have warned of the risks of climate change...Some environmentalists contend that the chemical companies were allowed to have too much input into the HFC deal and that it could have been more ambitious…” click here for more

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