Platts proposes to change specifications, name of Industrial Pollutants carbon credit assessment, March 17

Platts, part of S&P Global Energy, proposes to revise the methodology and scope of its Industrial Pollutants carbon credit assessment to reflect only the value of voluntary carbon credits generated from hydrofluorocarbon reclamation activities, effective March 17, 2026.

The proposed changes are intended to align the assessment with market liquidity in the Industrial Pollutants segment, concentrated in HFC reclamation credits. These projects recover and reprocess high-global-warming-potential HFC refrigerants for reuse, avoiding emissions that would otherwise result from venting or the production of virgin HFCs.

Eligible projects typically involve the collection, purification, and reintroduction of reclaimed refrigerants into the supply chain under recognized standards, primarily the American Carbon Registry's Certified Reclaimed HFC Refrigerants, Propellants and Fire Suppressants methodology. As such, Platts also proposes to change the specifications for its assessment to reflect only ACR credits.

These changes would provide greater clarity and specificity in the assessment methodology.

Currently, the Platts Industrial Pollutants price assessment reflects the value of voluntary carbon credits generated from a range of project types, including, but not limited to, CCUS, Ozone-Depleting Substance destruction, fugitive emissions management, wastewater treatment, and nitric acid abatement.

Platts may normalize credit values based on factors such as technology type, certification standard, geography and co-benefits, which may affect a project's adherence to the carbon principles described above.

Platts notes that while project ratings are becoming an increasingly visible consideration across some carbon segments, price formation in the HFC reclamation market continues to be driven primarily by regulatory eligibility, delivery certainty, and volume, with ratings remaining limited across available supply . As such, Platts does not propose to incorporate ratings into the specifications for this assessment at this time, though further market feedback is welcome.

To align with the above changes, Platts would also change the name of the assessment to better reflect the nature of credits considered within the assessment :

Please send any feedback to platts_carbon@spglobal.com and pricegroup@spglobal.com by Feb. 12.

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