Fluorinated gases -- described as the "worst greenhouse gases you've never heard of" by Greenpeace -- have a global warming effect up to 25,000 times greater than carbon dioxide.
The most common variant of the so-called "F-gases", HFCs, replaced "ozone-killing" CFCs after they were banned in the early 1990s.
The EU says emissions of fluorinated gases doubled in the bloc from 1990 to 2014, but have been falling since legislation was introduced in 2015.
Under the new legislation, part of the EU's ambitious Green Deal package, HFCs will be phased out completely by 2050, and their production slashed to just 15 percent by 2036.
New refrigerators containing the gases will be banned from going on sale by 2026 and certain heat pumps and air conditioning systems by 2027.
"Such substances have highly negative impacts on the health of our planet and must be phased down," said Spain's environment minister Teresa Ribera Rodriguez, whose country holds the EU's rotating presidency.
"The agreement is an important step towards our common goal of fighting climate change and will help us reach our ambitious climate goals."
Lawmaker Bas Eickhout, who led the parliament's negotiating team, said the deal would give clarity to EU businesses seeking to develop key technologies such as heat pumps for the green transition.
"European companies are already at the forefront of developing clean alternatives to F-gases, so this law will be good for the climate and the European economy," he said.
The agreement now needs to be signed off formally by the member states and voted on by the entire parliament to become law.
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