What is the purpose of the Chicago Climate Exchange (CCX)? - Curiosity
The Chicago Climate Exchange (CCX) was dreamed up by an economist named Dr. Richard Sandor. In 2000, Sandor explored the cap and trade system to see whether it could be applied to companies in the United States. Under a cap and trade plan, one member who succeeds in lowering greenhouse gas emissions within his or her allotment or "cap" can sell the remaining allotment to another member and "trade" it to offset the latter's emission excess. Based on this idea, Dr. Sandor launched the CCX in 2003 as a carbon-trading market whereby pollution "shares" are traded as in a stock market. Currently, the CCX boasts over 300 multinational members and several affiliated exchanges: Chicago Climate Futures Exchange (CCFE), European Climate Exchange (ECX), Tianjin Climate Exchange and Montréal Climate Exchange (MCeX).
The Chicago Climate Exchange (CCX) was dreamed up by an economist named Dr. Richard Sandor. In 2000, Sandor explored the cap and trade system to see whether it could be applied to companies in the United States. Under a cap and trade plan, one member who succeeds in lowering greenhouse gas emissions within his or her allotment or "cap" can sell the remaining allotment to another member and "trade" it to offset the latter's emission excess. Based on this idea, Dr. Sandor launched the CCX in 2003 as a carbon-trading market whereby pollution "shares" are traded as in a stock market. Currently, the CCX boasts over 300 multinational members and several affiliated exchanges: Chicago Climate Futures Exchange (CCFE), European Climate Exchange (ECX), Tianjin Climate Exchange and Montréal Climate Exchange (MCeX).
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