Chicago Climate Exchange (CCX), launched in 2003, is the world’s first and North America’s only active voluntary, legally binding integrated trading system to reduce emissions of all six major greenhouse gases (GHGs), with offset projects worldwide.
CCX Members are leaders in greenhouse gas (GHG) management and represent all sectors of the global economy, as well as public sector innovators. Reductions achieved through CCX are the only reductions made in North America through a legally binding compliance regime, providing independent, third party verification by the Financial Industry Regulatory Authority (FINRA, formerly NASD). The founder, Chairman and CEO of CCX is economist and financial innovator Dr. Richard L. Sandor, who was named a Hero of the Planet by Time Magazine in 2002 for founding CCX, and in 2007 as the "father of carbon trading."
CCX emitting Members make a voluntary but legally binding commitment to meet annual GHG emission reduction targets. Those who reduce below the targets have surplus allowances to sell or bank; those who emit above the targets comply by purchasing CCX Carbon Financial Instrument® (CFI™) contracts.
CFI Contracts, the CCX Tradable Commodity
The commodity traded at CCX is the CFI contract, each of which represents 100 metric tons of CO2 equivalent. CFI contracts are comprised of Exchange Allowances and Exchange Offsets. Exchange Allowances are issued to emitting Members in accordance with their emission baseline and the CCX Emission Reduction Schedule. Exchange Offsets are generated by qualifying offset projects.
Goals of CCX:
To facilitate the transaction of GHG allowance trading with price transparency, design excellence and environmental integrity
To build the skills and institutions needed to cost-effectively manage GHGs
To facilitate capacity-building in both public and private sectors to facilitate GHG mitigation
To strengthen the intellectual framework required for cost effective and valid GHG reduction
To help inform the public debate on managing the risk of global climate change
Benefits of Membership:
Be prepared: mitigate financial, operational and reputational risks
Reduce emissions using the highest compliance standards with third party verification
Prove concrete action on climate change to shareholders, rating agencies, customers and citizens
Establish a cost-effective, turnkey emissions management system
Drive policy developments based on practical, hands-on experience
Gain leadership recognition for taking early, credible and binding action to address climate change
Establish early track record in reductions and experience with growing carbon and GHG market
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Chicago Climate Exchange, carbon trading, carbon trade
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