ChicagoClimatEx.com is greenhouse gas emission registry, reduction & trading system
Title
Chicago Climate Exchange
Description
About CCX
The Chicago Climate Exchange (CCX) is North America’s only, and the world’s first, greenhouse gas (GHG) emission registry, reduction and trading system for all six greenhouse gases (GHGs). CCX is a self-regulatory, rules based exchange designed and governed by CCX Members. Members make a voluntary but legally binding commitment to reduce GHG emissions. By the end of Phase I (December, 2006) all Members will have reduced direct emissions 4% below a baseline period of 1998-2001.Phase II, which extends the CCX reduction program through 2010, will require all Members to reduce GHG emissions 6% below baseline.
CCX Derived from Feasibility and Design Research Supported by Millennium Grants from the Joyce Foundation
The development of CCX was initiated through a feasibility study that was funded by the Chicago-based Joyce Foundation in 2000, a leading public policy philanthropy. The grant was administered by Northwestern University’s Kellogg Graduate School of Management and conducted by Environmental Financial Products (EFP). The predecessor to CCX, EFP specialized in developing and trading new environmental, financial and commodity markets. It also designed risk management and hybrid financial instruments that enhance the interrelationships between the capital, commodity and environmental markets. EFP’s principals acted both as agents and advisors in a variety of environmental trades and capital markets transactions. They also authored numerous articles in academic and general interest publications.
The study concluded that a North American private sector pilot greenhouse gas trading market was feasible. A subsequent grant in August, 2001 funded the initiation of research on market implementation. The research included:
Contact
- Chicago Climate Exchange, Inc.
-
- Chicago Illinois
- United States 60604
-
- 312-554-3384
Logos
