Million KWh's

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



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



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)

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.


CSW Industrials, Inc. (stock ticker: CSWI) operates as a diversified industrial company in the United States and internationally. Among their many solutions, they offer refrigerant caps for HVAC systems to prevent leaks and tampering. They went public in 2014 and are headquartered in Dallas, Texas.

CSWI's Role in Drawdown

CSW Industrials, Inc. manufactures products to make HVAC/R systems more efficient, a climate solution, and derives a large portion of its revenue from those products. Among their many solutions is refrigerant caps and chemical sealants to stop refrigerants in air conditioning systems from leaking or being tampered with. Preventing refrigerants from leaking helps avoid further emissions of greenhouse gases.

CSWI: What We Like

We'll update this section once CSW makes sustainability information available.

CSWI: 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. 

Other Refrigerant Management Stocks in the Climate Index

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