The commodity traded at the Chicago Climate Exchange (CCX) is the Carbon Financial Istrument (CFI) contract, each of which represents 100 metric tons of CO2. CFI contracts are comprised of Exchange Allowances and Exchange Offsets.  CCX issues tradable CFI contracts to owners or aggregators of eligible projects on the basis of sequestration, destruction or displacement of green house gas emissions.

The basic CCX Specifications for Renewable Energy Offset Projects include:
Only renewable energy systems activated on or after January 1, 1999 may qualify.
Qualifying offset projects can potentially earn offsets (CFI contracts) during the years 2003-2010.

Project proponents need to demonstrate clear ownership rights to the environmental attributes associated with the renewable energy production.
Eligible renewable energy and associated environmental attributes are those not being used to meet obligations established by state or local mandates
(e.g., renewable portfolio standards).

The energy generated by the renewable energy system is not being sold as “green”.

To prevent double counting of benefits, any renewable energy credits (RECs) generated by qualifying systems must be surrendered to and retired by CCX in order for offsets to be issued.

For more information on the Chicago Climate Exchange, please click go to www.chicagoclimatex.com