Some of the projects will focus on other gases, the byproduct of certain industrial processes, known as HFCs.
These pollutants (soot, methane and hydrofluorocarbons, or HFCs) are believed to contribute about a third of the human-caused rise in global temperatures.
At current prices, China is reckoned to have about $6 billion-7 billion-worth of HFCs that could be captured.Not surprisingly, given both Chinese efficiency and the amount of dirty industry in the country, two-thirds of the deals signed between January 2005 and March 2006, by value, were with China.
The existing agreement does not cover a class of chemicals called hydrofluorocarbons (HFCs) which do not harm ozone but do act as greenhouse gases; they are among the fastest-growing such gases.
Hydrofluorocarbons (HFCs) are ozone-friendly replacements for CFCs, and are one of the fastest-growing greenhouse gases, having risen 40% since 1990.
America, Mexico, Canada and a bunch of other countries have indicated that they support the idea of dealing with HFCs under the Montreal protocol.Those in favour of a more holistic approach argue that disaggregating greenhouse gases could undermine the effort to solve the problem as a whole.
The rest comes from a variety of sources, including hydrofluorocarbons (HFCs), black carbon (soot), methane and nitrogen compounds.
Emissions of HFCs are unrestricted, though CDM investments are used to reduce them in some cases.
There was talk of curbing leaks of natural gas, managing forests to trap more carbon and phasing out HFCs (chemicals used in air-conditioners and fridges that are especially potent greenhouse gases).Some thought Mr Obama would approve Keystone XL, a pipeline for carrying Canadian oil to American refineries.
HFCs, emitted by refrigerants and solvents, have a warming effect 1,440 times more powerful than carbon dioxide.Reducing emissions of these forcings would slow the current rate of warming: America's State Department estimates its proposed measures could slow warming by 0.5°C by 2050.
The latter includes sulfur hexafluoride, hydrofluorocarbons (HFCs), and perfluorocarbons (PFCs).
