SRF see's long term opportunities in move against climate change

The final outcome of the HFC amendment has been negotiated and we believe our Government has done well in balancing the needs of the Country and ensuring that it remains a responsible partner in fighting Climate Change.

The timelines agreed should give us adequate time to find appropriate solutions to the HFC Phase down amendment. As far as SRF is concerned, in the longer term, our technological capabilities will help us in developing products for the future, such as our own HFO 1234yf - a new generation substitute to HFC.

In addition, we have a good number of years to develop further new products which can benefit the domestic market and serve global markets as well. In the medium term, being the largest and the only producer of HFC in India, we see opportunities of expanding supplies to meet the growing refrigerant needs of the country.

We would also urge government to negotiate the financial mechanism for funding future transition to facilitate successful implementation of the Montreal Protocol in the country.

Regarding HFC 23, SRF as a responsible corporate citizen has been incinerating HFC 23 with our own resources for many years now and incineration of HFC 23 is an integral part of our production process.

The recent regulation will have no impact on us and it will be business as usual; however we believe there may be some essential uses for HFC 23 for which we will work with the relevant government authorities to find a solution.