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This rule implements the hydrofluorocarbon (HFC) phasedown under the American Innovation and Manufacturing (AIM) Act, enacted on December 27, 2020. The AIM Act directed EPA to promulgate a final rulemaking to, among other things, establish an allowance allocation and trading program within 270 days of enactment, i.e., September 23, 2021. In particular, this rule established the allowance allocation and trading program to phase down production and consumption of HFCs, which are harmful and potent greenhouse gases, over time. This rule also: established the production and consumption baselines; codified the list of controlled substances that will be covered by those baselines; determined an approach to allocating annual allowances and allowing for trading of those allowances; issued allowances for an initial set of years to implement the AIM Act’s phasedown schedule; established recordkeeping and reporting requirements; introduced a robust, agile, and innovative suite of enforcement and compliance provisions; and, addressed other related elements of the AIM Act.