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First Kyoto Carbon Trade in the US
Chicago Climate Exchange (CCX) launched its futures contracts on Certified Emission Reductions
yesterday, with a
contract of 1,000 metric tons
of carbon dioxide equivalent changing hands.
The Certified Emission Reductions (CER) futures contract is the first time that
hedging tools for CERs, a Kyoto Protocol compliant emissions instrument, was traded in an exchange in North America.
These trades, already popular in Europe, are becoming the new "carbon standard" currency among
civilized countries that support the UN Clean Development Mechanism for approved and verified
greenhouse gas (GHG) emission reduction and sequestration projects undertaken in developing countries,
and link domestic GHG markets with international ones.
Greenhouse Gas
Climate Change
Kyoto Protocol
CCX
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