The Chicago Climate Exchange (CCX) is the only market in North America to offer trading or carbon credits. The Exchange is currently responsible for trading between 3,000-5,000 contracts per day. The market is expected to exceed $60 billion by 2012 and speculation that the U.S. will join the global carbon trading network by this time points towards even stronger growth and progress in carbon trading in the U.S.
As of late September, 2008 ten states were formally trading carbon in three separate groups in the Northeast, Midwest and on the West Coast. The Chicago Climate Exchange is the only cap and trade system for all of North America and participates in projects across the globe. The value of climate futures may not be as high as investors previously hoped, but trading CO2 and other greenhouse gas emissions is still big business.
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