323

Million KWh's

10.2% increase (p. 7) in Limbach’s construction segment gross profit in 2020

50.75%

Increase

Their service revenue also grew by 10.5% in 2020 (p. 8)

16.26%

Reduction

Limbach’s five-year outlook aims to increase their maintenance/service business (as opposed to new construction or renovation) to 50% from 22.4% in 2020 (p. 11)

View Our Analysis

The Path to Drawdown: Refrigerant Management

Refrigerators and air conditioners contain chemical refrigerants that absorb and release heat to enable chilling. These refrigerants, particularly chlorofluorocarbon (CFC) and hydrofluorocarbon (HFC), have between 1,000 and 9,000 times greater global warming potential than carbon dioxide.

Scientists in the 1980s found that these refrigerants were responsible for depleting the ozone layer. As a result, governments adopted international treaties to phase them out. High-income countries have already started phasing out HFCs in 2019. Some low-income countries will follow suit in 2024, and others in 2028. Thanks to the availability of substitutes with much lower greenhouse gas potential like propane and ammonium, this phasing out is expected to be smooth.

Still, the stock of HFCs will keep growing until all countries stop their use. This is where refrigerant management comes into play. Refrigerant management is the recovery, recycling, and destruction of refrigerants at the end of life. Refrigerants can be purified for reuse or transformed into other chemicals that don’t exacerbate global warming. And since 90% of refrigerant emissions happen at the end of their life, those currently in circulation need to be properly disposed of.

What We Want to See Improve

Disclose Sustainability Metrics

CSW doesn't disclose any of its own sustainability information. This needs to change. We'd like to see them publish an annual sustainability report that includes information on their absolute greenhouse gas emissions, emissions avoided, amount of energy used, the sources of that energy, as well as commitments for reducing emissions and switching to zero-emission energy.

Use a Clean Bank

CSW has entered (p. 59) into credit agreements with JP Morgan Chase several times over the last few years. Unfortunately, JP Morgan Chase is one of the largest funders of fossil fuel companies in the world. We urge CSW to stop borrowing from dirty banks and instead seek out climate-conscious financial institutions.

Enhance Supplier Transparency

CSW notes (p. 7) that they obtain raw materials, include base oils, copper flake, steel, aluminum, etc. from numerous suppliers. We'd like to know more about these suppliers - where they're based, what their carbon footprints are, and CSW's criteria for choosing them. 

Related Refrigerant Management Stocks in the Climate Index

View All Climate Index Stocks →

Allocated Company Description

0.14%

CSW Industrials, Inc. (CSWI)

CSW, a diversified industrial company, offers refrigerant leak prevention products for HVAC systems. Refrigerant management is a key Drawdown solution

0.02%

Hudson Technologies (HDSN)

Hudson Technologies reclaims, recycles, reuses and manages refrigerants, which are some of the most potent greenhouse gases

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