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U.S. Senate votes to amend global treaty to curb climate-warming gas

By Valerie Volcovici and Moira Warburton WASHINGTON (Reuters) -The U.S. Senate on Wednesday voted 69-27 to ratify an amendment to the Montreal Protocol that would cut the use of...
U.S. Senate votes to amend global treaty to curb climate-warming gas © Reuters. FILE PHOTO: People wearing masks for protection against the coronavirus disease (COVID-19) walk past the U.S. Capitol in Washington, U.S., September 4, 2022. REUTERS/Elizabeth Frantz

By Valerie Volcovici and Moira Warburton

WASHINGTON (Reuters) -The U.S. Senate on Wednesday voted 69-27 to ratify an amendment to the Montreal Protocol that would cut the use of hydrofluorocarbons (HFCs), a major greenhouse gas, in a key step towards combating climate change.

The so-called Kigali amendment calls for the phase-down of HFCs, gases used in heating, ventilation, air conditioning and refrigeration (HVACR) that are significantly more potent than carbon dioxide in contributing to global warming.

"This is a win-win in our fight against climate change and will go a long way to battle rising global temperatures while also creating tens of thousands of good paying American jobs," Senate Majority Leader Chuck Schumer said on Wednesday.

He said the Kigali ratification and passage of the climate-focused Inflation Reduction Act last month make up the "strongest one-two punch" that Congress has taken to combat climate change.

Senior administration officials have told Reuters that worldwide implementation of the amendment could prevent as much as a half degree Celsius (0.9 F) in warming by the end of the century.

John Kerry, special envoy on climate change and former secretary of state who helped negotiate the treaty amendment in Kigali in Rwanda in 2016, called the ratification a "profound victory ​for the climate and the American economy."

The amendment icludes specific targets and timetables to replace HFCs with climate-friendly alternatives and restricts countries that have ratified the Montreal protocol and its amendments from trading in controlled substances with states that haven't ratified.

HVACR manufacturers, who had supported ratification of the amendment since Congress voted in 2020 to phase out HFCs domestically, said ratification will create jobs and keep the sector competitive globally.

"It counts for the global competitive advantage it creates; it counts with the additional exports that will result and it counts for U.S. technology preeminence," said Stephen Yurek, president of trade association the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).

Durwood Zaelke, president of the Institute for Governance and Sustainable Development that has worked on phasing out HFCs, said the amendment can provide an example for other more contentious global climate negotiations.

"When you line up business goals with environmental goals, you can get bipartisan support at home and North-South support globally for stronger multilateralism," he said.

The world's leading producers of substitutes for HFCs are in Louisiana, New Jersey, Texas, and elsewhere in the United States. The world's fastest growing markets for refrigerators and air conditioners are overseas.

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BROKERS ĐƯỢC CẤP PHÉP
net_home_top Ai VIF
29-09-2022 04:55:40 (UTC+7)

EUR/USD

0.9736

+0.0002 (+0.02%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (3)

Sell (3)

EUR/USD

0.9736

+0.0002 (+0.02%)

Summary

Neutral

Moving Avg:

Buy (5)

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Indicators:

Buy (3)

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GBP/USD

1.0886

-0.0002 (-0.02%)

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↑ Buy

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Buy (12)

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Buy (4)

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USD/JPY

144.12

-0.04 (-0.03%)

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↑ Buy

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AUD/USD

0.6521

-0.0001 (-0.02%)

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USD/CAD

1.3607

+0.0002 (+0.01%)

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EUR/JPY

140.32

-0.01 (-0.01%)

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EUR/CHF

0.9503

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↑ Buy

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Gold Futures

1,668.50

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Silver Futures

18.907

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Copper Futures

3.3825

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81.88

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88.00

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US Coffee C Futures

227.80

+3.45 (+1.54%)

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↑ Sell

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Euro Stoxx 50

3,335.30

+6.65 (+0.20%)

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S&P 500

3,719.04

+71.75 (+1.97%)

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↑ Sell

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DAX

12,183.28

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FTSE 100

7,005.39

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Hang Seng

17,250.88

-609.43 (-3.41%)

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Buy

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US Small Cap 2000

1,725.13

+62.62 (+3.77%)

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IBEX 35

7,442.20

-3.50 (-0.05%)

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Neutral

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BASF SE NA O.N.

39.415

-0.080 (-0.20%)

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↑ Buy

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Bayer AG NA

48.19

-0.07 (-0.13%)

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Allianz SE VNA O.N.

160.72

-3.02 (-1.84%)

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↑ Buy

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Adidas AG

130.24

+2.94 (+2.31%)

Summary

↑ Buy

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Buy (12)

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Buy (10)

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Deutsche Lufthansa AG

5.772

-0.024 (-0.41%)

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↑ Buy

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Siemens AG Class N

99.46

+1.54 (+1.57%)

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Deutsche Bank AG

7.854

-0.274 (-3.37%)

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Sell (7)

 EUR/USD0.9736Neutral
 GBP/USD1.0886↑ Buy
 USD/JPY144.12↑ Buy
 AUD/USD0.6521↑ Sell
 USD/CAD1.3607↑ Sell
 EUR/JPY140.32↑ Sell
 EUR/CHF0.9503↑ Buy
 Gold1,668.50↑ Buy
 Silver18.907Buy
 Copper3.3825↑ Buy
 Crude Oil WTI81.88↑ Sell
 Brent Oil88.00↑ Buy
 Natural Gas7.022Neutral
 US Coffee C227.80↑ Sell
 Euro Stoxx 503,335.30Neutral
 S&P 5003,719.04↑ Sell
 DAX12,183.28Neutral
 FTSE 1007,005.39Neutral
 Hang Seng17,250.88Buy
 Small Cap 20001,725.13↑ Buy
 IBEX 357,442.20Neutral
 BASF39.415↑ Buy
 Bayer48.19Neutral
 Allianz160.72↑ Buy
 Adidas130.24↑ Buy
 Lufthansa5.772↑ Buy
 Siemens AG99.46↑ Buy
 Deutsche Bank AG7.854↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,410/ 6,510
(0/ 0) # 1,818
SJC HCM6,420/ 6,520
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SJC Hanoi6,420/ 6,522
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SJC Danang6,420/ 6,522
(0/ 0) # 1,833
SJC Nhatrang6,420/ 6,522
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SJC Cantho6,420/ 6,522
(0/ 0) # 1,833
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Ngoại tệMua vàoBán ra
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EUR22.159,1623.399,49
GBP24.732,3625.786,46
JPY159,76169,13
KRW14,2317,34
Cập nhật lúc 17:55:10 28/09/2022
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