The best replacement for R12 is considered to be R-134a. The chemical name of R134a is tetrafluoroethane and it chemical formula is CF3CH2F. It is a hydrofluorocarbon (HFC) and has zero ozone depletion causing potential and very low greenhouse effect. R-134a is nonflammable and non-explosive and has good chemical stability though it has some affinity towards moisture.
The other two refrigerants that are considered good replacements for R12 are R-401a and R-401b. R-401A is the mixture by weight of 53% of R-22, 13% R-152a and 34% R-124. It is good replacement for R12 in the applications where the evaporator temperature is -23 degree C and above. It can be used applications like walk-in coolers, food and dairy display cases, domestic refrigerators, and beverage dispensers and vending machines.
R-401b is the mixture by weight of 61% R22, 11% R-152a and 28% of R-124. This refrigerant is suitable for domestic and commercial freezers and transport refrigeration.