United States. AHRI and the Alliance for Responsible Atmospheric Policy (The Alliance) published their comprehensive study: Economic Impact of Kigali Ratification and Implementation, supporting the ratification of the Kigali Amendment to the Montreal Protocol that calls for a gradual reduction in the production and consumption of hydrofluorocarbons (HFCs) worldwide.
Economic analysis indicates that the implementation in the United States of the Kigali Amendment is good for American jobs. It will strengthen U.S. exports and weaken the market for imported goods, while allowing U.S. technology to continue its global leadership.
According to the study:
The Kigali amendment is expected to increase jobs in U.S. industry. By 33,000 in 2027, increase exports by US$5 billion, reduce imports by almost US$7 billion, and improve the HVAC/R trade balance.
With Kigali, U.S. exports will outperform, increasing the U.S. share of the world market from 7.2% to 9.0%.
Fluorocarbon-based manufacturing industries in the United States directly employ 589,000 Americans, with an industry-wide payroll of more than $39 billion per year. The fluorocarbon industry in the U.S. indirectly supports 494,000 U.S. jobs with an annual payroll of $36 billion.
According to the analysis, U.S. industries that use and produce fluorocarbons contribute more than $205 billion annually in direct goods and services and provide employment for more than 2.5 million people and a total economic activity of $620 billion to the U.S. economy.
"The U.S. ratification of the Kigali Amendment is good for American jobs, good for the economy, and crucial for maintaining U.S. leadership around the world," said John Hurst, president of The Alliance and vice president of Lennox International. Around 30 countries have ratified the amendment. The United States cannot afford to be on the sidelines. America must continue to lead."
"This study illustrates very concretely the fact that the U.S. ratification of the Kigali Amendment is good for American jobs, good for the economy, and crucial to maintaining U.S. leadership around the world," said AHRI's President and CEO, Stephen Yurek. "It will help U.S. companies capture a large share of the projected $1 billion global market for the next generation of innovative, energy-efficient products and equipment."
The study can be seen by clicking here.
