|Policy Type:||Voluntary Approaches>Unilateral Commitments (Private sector)|
|Policy Target:||Framework/ Multi-sectoral Policy|
|Agency:||Chicago Climate Exchange (CCX)|
Chicago Climate Exchange (CCX) operates North Americas only cap and trade system for all six greenhouse gases, with global affiliates and 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). 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. The CCX covers six Greenhouse Gases (GHGs): carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), and sulfur hexafluoride (SF6). Emission Targets and Timetable: Phase I (2003-2006) emission reduction targets were 1% per year, below an average of baseline period 1998-2001. Phase II parameters extend the reduction period through 2010, with an additional 2% reduction commitment for Phase I Members and a total of 6% reduction commitment by 2010 for new Members joining in Phase II.
Last modified: Thu, 16 Feb 2017 20:17:52 CET