Chicago Climate Exchange
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|
| Type | |
|---|---|
| Location | Chicago, United States |
| Founded | 2003 |
| Owner | Climate Exchange PLC |
| Key people | Richard L. Sandor (founder) |
| Currency | United States Dollar |
| Volume | 680 million metric tons of CO2 |
| Website | www |
The Chicago Climate Exchange (CCX) was 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.
CCX employed independent verification, included six greenhouse gases, and traded greenhouse gas emission allowances from 2003 to 2010. The companies joining the exchange committed to reducing their aggregate emissions by 6% by 2010. CCX had an aggregate baseline of 680 million metric tons of CO2 equivalent.
CCX ceased trading carbon credits at the end of 2010 due to inactivity in the U.S. carbon markets, although carbon exchanges were intended to still be facilitated.
Until July 2010, CCX was operated by the public company Climate Exchange PLC, which also owned the European Climate Exchange.Richard Sandor, creator of the Sustainable Performance Group, founded the exchange and has been a spokesman for it. The exchange traded 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.
IntercontinentalExchange (: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, announced in April 2010 that it had agreed on terms to acquire Climate Exchange plc. That acquisition was completed in July 2010 and was followed by an announcement that half of the company's Chicago-based workforce would be laid off due to inactivity in the U.S. carbon markets. In November 2010, the Climate Exchange stated that it would cease trading carbon credits at the end of 2010, although carbon exchanges will still be facilitated.
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