Tradewater Receives 2023 Innovation Award from the ACR Registry
Tradewater was recognized for its outstanding global leadership and pioneering work to manage the multinational collection and destruction of dangerous, ozone depleting, greenhouse gases. The innovative methodology they co-developed with ACR Registry makes carbon financing more accessible for purposes of costly and complicated, yet critical, ODS collection and destruction, which is critical in avoiding catastrophic climate change.
ANAHEIM, Calif., March 27, 2023 /PRNewswire-PRWeb/ -- Mission-based project development company Tradewater received the ACR Innovation Award for their leadership in co-developing the greenhouse gas registry's methodology for International ODS (ozone depleting substances) destruction.
Tradewater was honored for their strategic innovation to collect CFC (chlorofluorocarbon) refrigerants in developing countries, as well as enabling the export of these controlled gases across borders for destruction to countries with compliant facilities.
The Montreal Protocol, a landmark agreement which banned the production and consumption of potent CFC (Chlorofluorocarbon) gases, did not include an end-of-life mandate to collect and destroy these gases. As a result, the equivalent of billions of metric tons of CO₂e in the form of CFC refrigerant gases are at risk of leaking into the atmosphere through degrading equipment or stockpiled in rusting tanks around the world without an appropriate solution.
Given that these gases have a disproportionately large impact on the warming of the planet, a solution is long overdue. Tradewater has a small team, with about 40 employees around the world, focused on scalable strategies for collecting, controlling, and destroying potent greenhouse and ozone-depleting gases.
The 2023 Innovation Award recognized innovations within the ACR methodology to make carbon financing more accessible for purposes of costly and complicated, yet critical, ODS collection and destruction. This methodology achieves two important things:
- It allows for the collection of CFCs from the abovementioned stockpiles in developing countries, most of which don't have the ability to facilitate destruction within their borders.
- It enables the export of these CFCs across borders for destruction to countries with safe and effective destruction facilities that meet the requirements of the Montreal Protocol.
"ODS collection and destruction is challenging work, but absolutely critical in preventing catastrophic climate change," said Tim Brown, co-founder and CEO at Tradewater. "This recognition, and this partnership with the ACR Registry, validates that the path we have chosen will generate significant climate benefits. The International ODS Destruction Methodology will be instrumental in providing access to carbon financing destruction efforts globally and at scale."
This week, the Intergovernmental Panel on Climate Change (IPCC) published a report which stated, "Continued greenhouse gas emissions will lead to increasing global warming, with the best estimate of reaching 1.5°C in the near term in considered scenarios and modelled pathways. Every increment of global warming will intensify multiple and concurrent hazards (high confidence)."
This is why Tradewater strongly advocates for climate solutions that make a real, measurable, permanent, and immediate impact in the fight against catastrophic climate change. These new methodologies ensure that ACR Registry and the industry continue to innovate to address the global stockpiles of dangerous CFC and HCFC gases, which is critical if we are to reach the 1.5°C target.
Tradewater has used the new ACR Registry methodology to successfully develop projects in Honduras and Thailand, and have projects underway in several other countries, including Chile and Saudi Arabia, as well.
------------------
Tradewater is a mission-based B Corp that creates, develops, and implements high-value projects which permanently prevent the world's most potent greenhouse and ozone-depleting gases from being released into the atmosphere. Learn more at tradewater.us and tradewaterglobal.com.
Media Contact
Taraneh Arhamsadr, Tradewater, 1 (872) 225-2432, [email protected]
SOURCE Tradewater
Share this article