To use all functions of this page, please activate cookies in your browser.
With an accout for my.chemeurope.com you can always see everything at a glance – and you can configure your own website and individual newsletter.
- My watch list
- My saved searches
- My saved topics
- My newsletter
Chicago Climate Exchange
Chicago Climate Exchange (CCX) is North America’s only voluntary, legally binding greenhouse gas (GHG) reduction and trading system for emission sources and offset projects in North America and Brazil.
Additional recommended knowledge
A project that is beyond business as usual is commonly referred to as a carbon project. CCX employs independent verification, includes six greenhouse gases, and has been trading greenhouse gas emission allowances since 2003. The companies joining the exchange commit to reducing their aggregate emissions by 6% by 2010. To date the exchange has more than 350 members ranging from corporations like Ford, DuPont, and Motorola, to state and municipalities such as Oakland and Chicago, to educational institutions such as Tufts University and University of Minnesota, to farmers and their organizations, such as the National Farmers Union and the Iowa Farm Bureau. CCX has an aggregate baseline of 226 million metric tons of CO2 equivalent, which is equal to the United Kingdom’s annual allocation under the EU ETS. This would make the CCX market comparable to one of the larger countries in the EU CO2 market, or 4% of U.S. annual GHG emissions.
CCX is operated by the public company Climate Exchange PLC, which also owns the European Climate Exchange. Richard Sandor, creator of the Sustainable Performance Group, founded the exchange and has been a spokesman for it. The exchange trades in emissions of six gases: Carbon dioxide, methane, nitrous oxide, sulfur hexafluoride, perfluorocarbons and hydrofluorocarbons. CCX started trading in October 2003, prior to the commencement of trading in the European Union through the ETS system.
The Carbon Sequestration Atlas of the United States and Canada details some of CCX's activity in various regions of North America. For instance, the Big Sky Carbon Sequestration Partnership reports that to date, the Chicago Climate Exchange (CCX) has accepted 5,388 CO2-eq metric tons (5,939 CO2-eq tons) of forestry-based carbon credits in the pilot tribal portfolio. The projects are now undergoing third-party verification in preparation for listing on the CCX. An additional 2,000 CO2-eq metric tons (2,200 CO2-eq tons) is now under development with the Navajo nation. For the private/state lands portfolio, NCOC has obtained listing agreements for 19 cropland sequestration projects in north-central Montana with a total of 7,587 CO2-eq metric tons (8,363 CO2-eq tons).
Components of the Trading System
The Trading System has the following three parts.
|This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Chicago_Climate_Exchange". A list of authors is available in Wikipedia.|