A cap and trade mechanism that allows for sale or transfer of achieved greenhouse gas (GHG) emission reductions. Countries, companies, and organizations that participate in an international or national emission-trading scheme have the flexibility to determine the most economic means to reduce their emissions. Consequently, greenhouse gas emissions could have a direct impact on the value of your company's assets and liabilities.

What is emission trading?

Emission trading, in itself, represents cooperation between countries, companies or organizations that have reduction commitments. Eligible company in a country that has reduced its emissions below the determined commitment can sell its surplus units to another company in a country that may find it more difficult to reduce its emissions and meet its reduction commitment.

What are the Benefits?

Emissions trading allows for the sale or transfer of achieved greenhouse gas emission reductions or removals by countries, companies, and organizations. A trading programme can help you reach your emission reduction targets. The programme provides countries, companies, and organizations with flexibility to determine the most viable economic means to reduce its emissions.

CCX Offset Program

Chicago Climate Exchange ("CCX") is an international rules-based greenhouse gas emission reduction, audit, registry and trading program based in the U.S.  Launched as a pilot program in 2003, the CCX market now includes over 350 entities. CCX participants in the industrial, governmental and academic sectors execute legally binding commitments to meet annual emission reduction goals of 4% below baseline for 2006 and 6% below baseline by 2010.

Many project types can fall under CCX like renewable, fuel switch etc. CCX Projects with crediting period start date after 2003 can only be applicable for CCX Offset programs.

Members of the CCX staff are available to assist project owners in assessing the eligibility of their project(s), as well as provide technical support throughout the crediting process. While the various project types have different eligibility and quantification requirements, all CCX offset projects go through the same standardized registration, verification and crediting process:

• Submit project proposal and/or project questionnaire to CCX

• Obtain independent Project Verification.

• Register as a CCX Offset provider or Offset Aggregator.

• Receive Carbon Financial Instrument® (CFI®) contract for Project Offset.

For further details: http://www.chicagoclimatex.com/

URS Climate Change Management Services

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