The management of waste electrical and electronic equipment (WEEE) represents one of the main environmental challenges on a global scale, due to the rapid growth of this type of waste and the risk it poses to both human health and the environment. Decision makers depend on reliable estimates of the generation of WEEE and the quantification of its environmental impact. However, limited data regarding the amount of equipment in use, annual sales, and the lifespan of electrical and electronic equipment pose important limitations to this assessment. In response to this challenge, this paper develops a combined dynamic material flow analysis and life cycle assessment approach to estimate the volume of end-of-life refrigerators in Colombia and measure their environmental impact. First, the dynamic MFA model is developed to calculate the number of end-of-life refrigerators between 1935 and 2050. Then, the environmental impact is estimated using the CO2 emissions generated in each of the pathways of final disposal at the end of the refrigerators’ useful life. The results highlight the importance of the formal refrigerator recycling system in Colombia, since this achieves a saving of approximately three million tonnes of CO2 emissions during the period of evaluation. They also show that delivering refrigerators to informal recyclers or throwing them into open-air dumps or bodies of water generates a considerable environmental impact in comparison. Additionally, these alternative scenarios imply the loss of more than two hundred thousand tonnes of recyclable material.