CCX Chairman Sandor to Speak on Carbon Markets; Leaders from Around the World to Gather in NYC This Week to Discuss Climate Change
(CHICAGO – September 21, 2009) Chicago Climate Exchange® (CCX®) Chairman and founder Richard Sandor will speak at two events this week on carbon markets and cap-and-trade as a tool to address climate change.
Sandor will deliver the keynote address today at a forum sponsored by The Ohio State University to examine trends and opportunities in the global energy market and evolving cap-and-trade legislation. On Tuesday he will be in New York where he will speak on market innovation at the Dow Jones Sustainability Indexes 10-Year Anniversary Celebration, part of the annual Climate Week taking place in New York City.
“Since CCX launched the world’s first greenhouse gas cap-and-trade program in 2003, our visionary members have shown that emissions reduction and management is not only doable, but cost-effective. These experiences show that well regulated markets and a rules-based, independently verified system can facilitate emissions management,” said Sandor. “It is fitting that we look to our cap-and-trade experience here in the United States – for example, CCX, RGGI and the Clean Air Act – as heads of state, forward-looking executives, and advocates meet at the United Nations this week to discuss addressing climate change.”
Sandor is a member of the design committee of the Dow Jones Sustainability Index.
Sandor also serves as Executive Chairman of Climate Exchange plc. Climate Exchange plc owns CCX, including the CCX-subsidiary Chicago Climate Futures Exchange® (CCFE®), as well as the European Climate Exchange (ECX). Climate Exchange plc is a publicly traded company listed on the AIM division of the London Stock Exchange (CLE.L).
Details on Sandor’s speaking engagements:
WHAT McCormick Energy Solutions Conference - Keynote Speaker
WHEN Monday, September 21, 12-2 p.m. (ET)
WHERE Faculty Club at The Ohio State University, 181 S Oval Mall, Columbus, OH
MORE INFO http://mccormickenergyconference.ning.com/ or on Twitter @KipWorkshop
WHAT Dow Jones Sustainability Indexes: 10 year Anniversary Celebration
WHEN Tuesday, September 22, 5:30-8:30 p.m. (ET)
WHERE American Museum of Natural History - 79 Street & Central Park West, New York, NY
MORE INFO http://www.climateweeknyc.org/events/2009-09-22#122
Chicago Climate Exchange (CCX) Facts
• CCX launched its cap-and-trade system in 2003 and today has more than 450 members including Ford, AEP and DuPont. (See full member list.)
• CCX is world’s first and North America’s only cap-and-trade system for all 6 greenhouse gases.
• CCX members make a voluntary, legally-binding commitment to reduce emissions by 6% from 2000 levels by 2010.
• CCX’s cap-and-trade system in the United States has an annual baseline of 600 million metric tons of carbon dioxide and has achieved cumulative cuts of more than 400 million tons.
• CCX members represent 17% of Dow Jones Industrials; 11% of Fortune 100 and 20% of the largest CO2 emitting utilities in United States.
• CCX has global affiliates in Europe, China, Canada and Australia.
• CCX recently announced it will launch a new research center – the China-U.S. Low Carbon Finance and Development Research Center – with the People’s Bank of China and the China National Petroleum Corporation Assets Management Company.
• CCX is the exclusive Global Exchange Partner of the Carbon Disclosure Project.
• CCX’s exchange platform provides transparency, third-party risk management and a rules based system for trading.
Chicago Climate Futures Exchange (CCFE) Facts
• CCFE is a CFTC regulated designated contract market.
• CCFE provides standardized, cleared futures and options contracts for more than 20 environmental products.
• CCFE is the main price reference for sulfur dioxide (regulated by the U.S. Environmental Protection Agency) and carbon in the Regional Greenhouse Gas Initiative.
• Open interest on CCFE has grown to more than 136,000 contracts, up 123% on the year (from 61,420 on December 31, 2008).
• Open interest in CCFE’s CFI-US futures contract has surpassed 1 million tons.
• Average daily trading volumes on CCFE are about 10,000 contracts a day so far this month; that’s up from just over 1,000 contracts daily in September of 2008.
About Chicago Climate Exchange and Chicago Climate Futures Exchange
CCX is an Exchange whose objectives are to apply financial innovation and incentives to advance social, environmental and economic goals. CCX, which began trading in 2003, is the world’s first and North America’s only legally binding, rules-based greenhouse gas emissions allowance trading system, as well as the world’s only global system for emissions trading based on all six greenhouse gases. CCX members are leaders in greenhouse gas management and mitigation, including offset providers and offset aggregators, and located throughout the United States. CCX members derive from all sectors of the global economy, including the public sector, and emissions reductions being achieved through CCX by major utilities, corporations, cities, states and counties, are the only reductions in North America being achieved through a legally binding compliance regime, subject to independent third party verification provided by FINRA and price transparency. The founder, Chairman and CEO of CCX is economist and financial innovator Dr. Richard L. Sandor, who was named a Hero of the Planet by Time magazine in 2002 for his founding of CCX, and in 2007 as the “father of carbon trading.”
Chicago Climate Futures Exchange (CCFE), a wholly owned subsidiary of the Chicago Climate Exchange, is a CFTC designated contract market which offers standardized and cleared futures and options contracts on emission allowances and other environmental products. Clearing services are provided by The Clearing Corporation, the only active independent futures clearinghouse in the world. Market surveillance services are provided by the National Futures Association, the industry wide, self-regulatory organization for the U.S. futures industry.
CCX, a U.S. corporation, launched its trading platform in 2003. In 2005, CCX launched the European Climate Exchange (ECX), now the leading exchange operating in the European Union Emissions Trading Scheme. Since 2006, both CCX and ECX have been owned by Climate Exchange plc, a publicly traded company listed on the AIM division of the London Stock Exchange (CLE.L).


