New Mexico Joins Chicago Climate Exchange

New Mexico Joins Chicago Climate Exchange

New Mexico became the first state to enroll in the Chicago Climate Change Exchange (CCX), the only carbon emissions cap-and-trade scheme currently active in the U.S. Members of CCX enter contractual agreements to cut their emissions. Depending on their performance, they can sell, bank, or purchase emission credits, which are traded daily over the Internet. Members of CCX include companies such as IBM, Du Pont, and Ford Motor Co. and cities such as Chicago, Oakland, and Boulder. The New Mexico state government will reduce its emissions 4% by 2006 and 6% by 2010. The state‘s entry into CCX is consistent with Governor Bill Richardson’s GHG emission reduction targets for the state. In June 2005 Governor Richardson signed an executive order setting statewide commitments to reduce New Mexico’s total greenhouse gas emissions to 2000 levels by 2012, 10 percent below those levels by 2020, and 75 percent below 2000 levels by 2050.