[Environment Report]:Chicago Climate Exchange


This is the VOA Special English ENVIRONMENT REPORT.

A private North American group has launched an effort to reduceand trade releases of industrial gases linked to the warming of theEarth. This is the first time that businesses operating in more thanone industry have agreed to use a market-based system to reduceindustrial gas emissions. The group plans to begin trading emissionscredits later this year.

Several companies and the American city of Chicago, Illinois,announced the program last month. It is called the Chicago ClimateExchange, or C-C-X. Members of the group include DuPont, Ford MotorCompany, International Paper, and Motorola.

Each member of the C-C-X has agreed to reduce its release ofcarbon dioxide and other greenhouse gases by four percent over thenext four years. Members will receive credit for emissionsreductions above four percent. They can sell or trade these creditsto other members that have trouble meeting this goal.

Richard Sandor is the chairman of the C-C-X. He praised thecompanies forming the group for demonstrating leadership. He saidthey believe that an active way to deal with global warming helpseveryone.

The group said its members want to reduce costs they may facefrom future rules on greenhouse gas emissions. Trading credits mayhelp businesses find the most cost-effective methods to reducepollution. Members also hope to improve their public image onenvironmental issues.

One member of the Chicago Climate Exchange is American ElectricPower. It the biggest owner of electric power producers in theUnited States. Company officials say they hope their company'smembership will demonstrate the ability of the C-C-X to grow.

American Electric Power expects to reduce its release ofindustrial emissions through a number of actions. They includeimproving the effectiveness of power stations and use of renewableenergy. The company also will purchase credits directly from theprogram.

The C-C-X will supervise this program for industrial emissions,planting forests or farm products that use carbon dioxide, and otherprojects in North America. Companies in Brazil also will be invitedto join the program. About one-hundred other businesses haveexpressed interest in joining. Officials expect a second group ofmembers to be announced in about three months.

This VOA Special English ENVIRONMENT REPORT was written by GeorgeGrow.

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