John Mandyck, Chief Sustainability Officer, United Technologies

If you look at energy efficiency, the way machines become more energy efficient, in some cases we have to put more material into them… So that cost has to be passed on along the chain. If you look at the next transition of refrigerants that we are about to go through, there’s not only the research and development that is required but also the materials themselves are much more costly. The HFO compounds today are more costly than the HFC compounds. We don’t make them, we buy from suppliers. And so this is an issue that we have to balance, on how we can achieve the environmental aims of regulation, how we can achieve innovation but do it in a cost-effective way, so we can continue to serve our customers.