This New Climate Economy Working Paper was written as a supporting document for the 2015 report of the Global Commission on the Economy and Climate, Seizing the Global Opportunity: Partnerships for Better Growth and a Better Climate. It reflects the research conducted for Section 2.10 of the full report and is part of a series of 10 Working Papers. It reflects the recommendations made by the Global Commission- 1. Major companies should commit to phasing out HFCs through cost-effective cooperative action programmes such as those of the Consumer Goods Forum and Refrigerants, Naturally! 2. The Parties to the UNFCCC should also be encouraged to include an HFC phase-down in their “intended nationally determined contributions” (INDCs), and reporting on HFC emissions should be extended to all countries. 3. Incorporating HFC production and consumption into the Montreal Protocol would provide significant near-term gains to slow climate change, and could lead to avoiding 1.1–1.7 Gt CO2e of annual GHG emissions per year by 2030.