The World Resources Institute today joined the Chicago Climate Exchange (CCX) as a charter member, the first non-governmental organization to do so. CCX is a self-regulatory exchange that administers the world's first multi-national and multi-sector marketplace for reducing and trading greenhouse gas emissions.
"We are joining the Chicago Climate Exchange for two reasons. We want to strengthen a pioneering effort to create market-based solutions to the problem of climate change, and CCX helps us maintain our own organizational commitment to keep our net carbon dioxide emissions at zero," said Jonathan Lash, president of WRI.
The Chicago Climate Exchange, which will start its market operations on September 30, 2003, represents the first voluntary, legally binding commitment to reduce emissions by a cross-section of North American corporations, municipalities, and other institutions through the establishment of a rules-based market. The Exchange enables members to receive credit for reductions, and to buy and sell credits to determine the most cost-effective means of achieving emission reductions. It currently has 22 founding and charter members, including the City of Chicago, American Electric Power, Ford Motor Company and Du Pont.
"We are pleased to welcome the World Resources Institute to the Exchange," said Dr. Richard Sandor, chairman and chief executive officer of CCX. "WRI has a track record of leadership in building institutions needed to intelligently address climate risks. Being the first NGO to voluntarily commit to reduce its greenhouse gas emissions through CCX is indicative of WRI's leadership and vision."
As an associate member of CCX, WRI will be able to use the Exchange's standard mitigation tools to meet its commitment to zero net emissions target. WRI's commitment covers carbon dioxide emissions arising from electricity use, employee business travel, and employee commuting. The last two components are not required under CCX rules, but they will enable the Exchange to experiment with how carbon commitments may be expanded.
WRI first committed to reducing its carbon dioxide emissions in 1999, when it moved to its new green and energy-efficient office near Capitol Hill in Washington, DC. It also developed the GHG Protocol, the first internationally accepted standard of measuring and reporting greenhouse gas emissions, which have been accepted by various industries, including pulp and paper, and aluminum. CCX members will be using the GHG Protocol guidelines.
Early this month, WRI became the largest non-governmental organization in metropolitan Washington, DC to purchase 100 percent renewable sources of energy for its office.
WRI's experiences in achieving its carbon commitments are documented in the book, Working 9 to 5 on Climate Change: An Office Guide. It outlines the practical steps organizations can take to measure, manage, and reduce emissions in their offices.
The World Resources Institute is an environmental research and policy organization that creates solutions to protect the Earth and improve people's lives.
CCX is a self-regulatory exchange that administers the world's first multi-national and multi-sector marketplace for reducing and trading greenhouse gas emissions. CCX represents the first voluntary binding commitment by a cross-section of North American corporations, municipalities and other institutions to establish a rules-based market for reducing greenhouse gases. CCX enables members to receive credit for reductions, and to buy and sell credits to determine the most cost-effective means of achieving emission reductions.