Press Release
For Immediate Release
27 June 2007
CLIMATE EXCHANGE PLC
United States House of Representatives to offset its carbon dioxide emissions
though the Chicago Climate Exchange
On 22nd June, U.S. Representative Mark Kirk announced that his amendment
requiring the U.S. House of Representatives to offset carbon dioxide emissions
through the Chicago Climate Exchange ("CCX"), a wholly owned subsidiary of
Climate Exchange Plc, was passed by 216 votes to 176.
The amendment was attached to the 2008 Legislative Branch appropriations bill
which requests that the House Chief Administrative Officer purchase Carbon
Financial Instruments from American projects through the Chicago Climate
Exchange to offset carbon produced by all House operations after renewable
energy and efficiency improvements have been made.
Congressman Kirk said: "This amendment will ensure that the House of
Representatives becomes 'carbon neutral', an important component of the House
Chief Administrative Officer's plan to green the Capitol. By purchasing offset
credits, we can mitigate the emissions generated by the Capitol Power Plant and
the House's massive electricity use. The House should set the standard for
environmental responsibility - this amendment helps us reach the goal. As
private organizations like the Chicago Climate Exchange step up to address the
environmental needs of our nation, we know that they will receive the necessary
support from the House."
Dr. Richard Sandor, Chairman of Climate Exchange Plc, said: "We are proud to
welcome the participation of the Untied States House of Representatives in the
CCX. It showcases the House's Administrative Office foresight and leadership in
the issue of global climate change. The U.S. House of Representative's purchase
of CCX Carbon Financial Instruments highlights the contribution that U.S.
farmers, ranchers, foresters and other providers of renewal energy are having in
the building of environmental and financial institutions that can
cost-effectively help address environmental concerns for generations to come."
Contact
Neil Eckert, CEO, Climate Exchange Plc 0207 382 7801
Dr. Richard Sandor, Chairman Climate Exchange Plc 001 312 554 3370
Peter Rigby, Haggie Financial 0207 471 8989
About Climate Exchange Plc
Climate Exchange Plc is a holding company whose subsidiaries are principally
engaged in owning, operating and developing exchanges to facilitate trading in
environmental financial instruments including emissions reduction credits in
both voluntary and mandatory markets. The two main businesses are the Chicago
Climate Exchange (CCX) which operates a voluntary but legally binding cap and
trade system including an exchange for CO2 emissions as well as SOx and NOx
contracts in the US and internationally, and the European Climate Exchange (ECX)
which operates an exchange focussed on compliance certificates for the mandatory
European Emissions Trading Scheme. http://climateexchange.com
About Chicago Climate Exchange, Inc.
CCX is a financial institution whose objectives are to apply financial
innovation and incentives to advance social, environmental and economic goals.
CCX 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 represent all sectors of
the global economy, as well as public sector innovators. Reductions achieved
through CCX are the only reductions in North America being achieved through a
legally binding compliance regime, providing independent third party
verification provided by NASD 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 for his founding of CCX. For a full
list of CCX members, daily prices and other Exchange information, see http://
www.chicagoclimateexchange.com.
CCX, a US 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. CCX also launched the Chicago
Climate Futures Exchange (CCFE), a CFTC-regulated futures exchange for U.S. SO2
allowances and U.S. NOx Ozone Season allowances, the world's first environmental
derivatives exchange. Since 2006, CCX, ECX and CCFE have been owned by Climate
Exchange Plc, a publicly traded company listed on the AIM of the London Stock
Exchange.
About European Climate Exchange
The European Climate Exchange (ECX) manages product development and marketing of
Carbon Financial Instruments (CFI) futures and options contracts on CO2 EU
allowances traded under the EU Emissions Trading Scheme.
ECX CFI contracts are listed and traded on the ICE Futures electronic platform,
offering a central marketplace for emissions trading in Europe with standard
contracts and clearing guarantees provided by LCH.Clearnet. ECX/ ICE Futures is
the most liquid, pan-European Exchange for carbon emissions trading. More than
80 leading global businesses have signed up for membership to trade ECX
products. In addition, several hundred clients can access the market via banks
and brokers.
This information is provided by RNS
The company news service from the London Stock Exchange
END
Climate Exchange PLC announces House of Representatives
| Source: Climate Exchange PLC
Isle of Man, UK--(Marketwire - June 27, 2007) -