What To Know About the AIM Act
The EPA has issued a final rule on HFC refrigerant allowances entitled, “Phasedown of Hydrofluorocarbons: Establishing the Allowance Allocation and Trading Program under the American Innovation and Manufacturing (AIM) Act.” The bottom line is, the AIM Act will direct EPA to phase down production and consumption of HFCs to 15 percent of their baseline levels by 2036 via an allowance allocation and trading program.
An allowance is the unit of measure that EPA uses to control the production and consumption of HFCs. On October 1, 2021, EPA issued allowances for 2022 to companies that produced and/or imported HFCs in 2020. The allowances will be valid between January 1 and December 31 of a given year, also known as a “calendar-year allowance”. The calendar-year allowance represents the privilege granted to an entity to produce or import regulated substances in that year. Entities will need to expend allowances in order to produce or import bulk HFCs.
ACCA corporate partners Honeywell International, Chemours, Arkema, Daikin, and Hudson Technologies are among the entities receiving <0.5 percent aggregated in the distribution of HFC Consumption Allowances for 2022.
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