Platts to change specifications, name of Industrial Pollutants carbon credit assessment, March 23

Platts, part of S&P Global Energy, will revise the methodology, specifications, and scope of its Industrial Pollutants carbon credit assessment to reflect only the value of voluntary carbon credits generated from Hydrofluorocarbon (HFC) Reclamation activities, effective March 23, 2026.

These changes align the assessment with observed market liquidity in the Industrial Pollutants segment, which is currently concentrated in HFC Reclamation credits. These projects recover and reprocess high-GWP (Global Warming Potential) HFC refrigerants for reuse, avoiding emissions that would otherwise result from venting or from the production of virgin HFCs.

Eligible projects involve the collection, purification, and reintroduction of reclaimed refrigerants into the supply chain under recognized standards, primarily the American Carbon Registry's (ACR's) Certified Reclaimed HFC Refrigerants, Propellants, and Fire Suppressants methodology. As part of this change, the assessment specifications will be updated to reflect only ACR-certified credits.

The revisions provide greater clarity, transparency, and specificity to the assessment methodology.

Currently, the Platts Industrial Pollutants price assessment captures voluntary carbon credits generated from a range of project types, including CCUS, Ozone Depleting Substance (ODS) destruction, fugitive emissions management, wastewater treatment, nitric acid abatement, and HFC Reclamation. Effective March 23, the assessment will reflect the value of HFC Reclamation credits specifically.

Platts may continue to normalize credit values based on factors such as technology type, certification standard, geography, and co-benefits, where relevant, to ensure alignment with the specifications published 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, ratings will not be incorporated into the specifications for this assessment at this time.

To reflect the revised scope, Platts will also change the name of the assessment effective March 23:

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