The FIRST blog about CCX posted April 21, 2009
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The SECOND blog about CCX posted April 27, 2010
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NOW Today, April 28, 2010:
The Chicago Climate Exchange (CCX) has a NEW Affiliate in California the CaCX
“The Terminator” has stepped in it and doesn’t even realize it; or does he?
Industry Risk – Climate Exchange PLC Announces Formation of the CaCX
May 30, 2007
Chicago Climate Exchange, Inc. (CCX) announced yesterday that it is forming the California Climate Exchange (CaCX) to develop and trade financial instruments relevant to the California Global Warming Solutions Act, AB32, recently signed by Governor Arnold Schwarzenegger, which calls for a mandatory reduction in California’s greenhouse gas emissions as of 2012, with mandatory reporting of emissions to commence in 2008.
“We congratulate the pioneering initiative of the great State of California, the legislature and the people of California and know that implementing any emissions trading that may ensue will require price transparency and efficient, exchange-based systems for maximum success,” said Dr. Richard L. Sandor, Chairman and CEO of Chicago Climate Exchange.
He added, “CCX has uniquely already accomplished a demonstration linkage between CCX, the only operational cap-and-trade greenhouse gas system in the United States, and the only other operational trading system, the European Union’s Emissions Trading Scheme, through our member, Baxter Pharmaceuticals. To the extent a market emerges in California, CCX and the California Climate Exchange can easily and cost-efficiently accomplish linkage with other national, regional and global markets.”
Product development will be ready for operation in accordance with the evolution and needs of California and AB32.
CCX has a number of members with headquarters and operations in California, including Sacramento County, the cities of Oakland and Berkeley, Safeway, Cloverland, Environmental Credit Corporation, Intel, and Sony Electronics.
http://www.ieca.net/news/story.cfm?id=14791
Source: www.riskcenter.com
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May 30: Industry Risk – Climate Exchange PLC Announces Formation of the CaCX
Location: Isle of Man
Date: Wednesday, May 30, 2007
Chicago Climate Exchange, Inc. announced yesterday that it is forming the California Climate Exchange to develop and trade financial instruments relevant to the California Global Warming Solutions Act, AB32, recently signed by Governor Arnold Schwarzenegger, which calls for a mandatory reduction in California’s greenhouse gas emissions as of 2012, with mandatory reporting of emissions to commence in 2008.
http://www.riskcenter.com/story.php?id=14791
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The CCX-CCFE Seventh Annual Member Meeting
Wednesday, June 9, 2010 9:00 AM – Thursday, June 10, 2010 10:30 PM
Central Time Zone
Spertus Institute
610 South Michigan Avenue
Chicago, Illinois 60605
The CCX-CCFE Seventh Annual Member Meeting will bring together member representatives from around the globe to network, share best practices and participate in a wide variety of valuable educational sessions including:
- Federal and regional climate change policy advancements
- Upcoming frontiers in environmental finance
- Renewable energy market development and overview
- Guidance on SEC climate change disclosure rules
- Greenhouse gas data management in a world of multiple reporting requirements
- Reducing Emissions through Deforestation & Degradation (REDD)
- Lessons on communicating your corporate environmental initiatives
- Update on international carbon markets including European Climate Exchange (ECX) developments
Wednesday, June 9, 2010
Trading Focus Seminar
Sessions:
- U.S. Carbon Markets: CCX, RGGI, WCI
- International Carbon Markets: EU ETS, Kyoto Protocol CERs & JI projects
- Offsets: Prospects and Pricing under KGL and Beyond
- EPA Clean Air Act Markets: SO2, NOx
- Renewable Energy: Mandatory and voluntary REC market
Thursday, June 10, 2010
Day 2
8:00 AM – 5:00 PM
Member Meeting
Sessions:
- Chairman’s Welcome: CCX Chairman and Founder Richard Sandor speaks about the future of emission markets
- Keynote: AMP CEO Marc Gerken’s perspective from electric utility sector
- Exchange Update: Domestic & international activities
- Policy Update: Latest on news from Washington, EPA regulations & what’s taking place regionally
- Disclosing Climate Risk: What the new SEC guidelines mean for your company
- Carbon Markets and Increasing Social Good: Reducing Emissions from Deforestation and Forest Degradation in Developing Countries (REDD)
- Offsets: The role of agriculture in addressing climate change
- CCX Member Perspectives: Case studies on GHG management and preparing for an international carbon regime
- Sustainability Marketing: Communicating your efforts to customers, investors and the media
http://guest.cvent.com/EVENTS/Info/Summary.aspx?e=4cfbb300-a366-4840-be79-ee577657671f
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CCFE: Carbon Credits Futures Exchange
CCFE launched in 2004 and is part of the Climate Exchange plc (LSE: CLE.L) group of companies, which comprise the world’s leading exchanges specializing in environmental derivatives. Also owned by Climate Exchange Plc are the European Climate Exchange® (ECX®) and the Chicago Climate Exchange® (CCX®), of which CCFE is a subsidiary. ECX is the dominant exchange by trading volume for carbon derivatives in the European Union Emissions Trading Scheme.
http://www.ccfe.com/ccfeContent.jsf?id=91308
CCFE Board of Directors
Warren Batts is an Adjunct Professor of Strategic Management at the University of Chicago Graduate School of Business.
Bruce H. Braine is Vice President – Strategic Policy Analysis for American Electric Power. In his position at AEP, Mr. Braine directs the analysis of federal and state energy and environmental policies, as well as analyzing and assisting in the development of long-term environmental, energy and technology strategy. Before joining AEP Energy Services in 1997, Mr. Braine was a principal in the Washington, D.C. economic and management-consulting firm of Putnam, Hayes and Bartlett. Mr. Braine also serves on the Board of Directors of the International Emissions Trading Association (IETA), Ohio Association of Non-Profit Organizations (OANO), and on the finance committee and as Chairman of the pension committee of the United Way.
The Honorable Carole Brookins served from 2001 to 2005 as the United States Executive Director to The World Bank Group in Washington, DC. She represented the US government as the largest shareholder on the Board of Executive Directors. Appointed by President George Bush, she was confirmed by the US Senate in the summer of 2001. Ms. Brookins was Chairman and Chief Executive Officer of World Perspectives, Incorporated, Washington-based strategic advisors providing information, analysis and consulting services to international commodity, financial and government clients.She has been called upon by clients around the world for her work as a policy and trade strategist and is widely recognized for her expertise on the global political economy and its effect on agricultural and food markets. Ms. Brookins founded World Perspectives in 1980 after seven years as Vice President in the Commodities Department of E.F. Hutton & Company, Inc. in New York City. Ms. Brookins was on the Board of Directors of Terra Industries Inc., a leading producer of nitrogen and methanol, as well as on the boards of the international development trust Winrock International, U.S. National Committee for Pacific Economic Cooperation (PECC), the Pacific Basin Economic Council (PBEC) and its Food Committee, the International Food and Agribusiness Management Association (IAMA) and The Atlantic Council. She also served as a member of the North American Advisory Board of Rabobank International and the International Advisory Committee of CoBank, the World Agricultural Forum Advisory Board and the Advisory Council to Save the Children.
Ambassador Stuart E. Eizenstat currently heads the international practice of Covington & Burling, a major international law firm. Ambassador Eizenstat has held a number of key positions at senior levels in the U.S. Government. During the Clinton Administration he served as U.S. Ambassador to the European Union (1993-1996), Under Secretary of Commerce for International Trade (1996-97); Under Secretary of State for Economic, Business and Agricultural Affairs (1997-99), and Special Representative of the President on Holocaust-Era Issues (1995-2001). Ambassador Eizenstat was also Chief Domestic Policy Adviser and Executive Director of the White House Domestic Policy Staff for President Jimmy Carter (1977-1981). Ambassador Eizenstat played a prominent role in the development of key international initiatives, including and the negotiation of the Kyoto Protocol on global warming, where he led the US delegation. Ambassador Eizenstat successfully negotiated major agreements with the Swiss, German, Austrian and French governments, and other European countries, covering restitution of property, payment for slave and forced laborers, recovery of looted art, bank accounts, and payment of insurance policies. His book “Imperfect Justice: Looted Assets, Slave Labor, and the Unfinished Business of World War II” is an account of these events. Ambassador Eizenstat was educated in the public schools of Atlanta. He holds a J.D. from Harvard Law School and received his B.A. cum laude from the University of North Carolina at Chapel Hill, where he was Phi Beta Kappa.
Les Rosenthal is a former Chairman of the Chicago Board of Trade (CBOT) and a principal of Rosenthal Collins, a leading Chicago-based commodities and futures trading firm. During his time as member of the Board and Chairman of the CBOT, Mr. Rosenthal was instrumental in advancing the cause of new and innovative exchange-traded products such as Treasury Bond futures and insurance derivatives.
Richard L. Sandor is chairman and founder of the Chicago Climate Exchange, the world’s first and North America’s only voluntary, legally binding integrated greenhouse gas emissions reduction, registry and trading system. Dr. Sandor is also a research professor at the Kellogg Graduate School of Management at Northwestern University and a Member of the International Advisory Council of Guanghua School of Management at Peking University. While on sabbatical from the University of California, Berkeley in the early 1970s he served as Vice President and chief economist of the Chicago Board of Trade. It was at that time that he earned the reputation as the principal architect of the interest-rate futures market. Richard L. Sandor was honored by the City of Chicago and the Chicago Board of Trade for his contribution to the creation of financial futures and his universal recognition as the “father of financial futures”. In October 2007, Dr. Sandor was honored as one of TIME Magazine’s “Heroes of the Environment” for his work as the “Father of Carbon of Trading.”
Maurice Strong is a former Secretary General of the 1992 United Nations Conference on Environment and Development (the Rio Earth Summit) and Under-Secretary General of the United Nations. He is currently the Chairman of the Earth Council, a non-governmental organization dedicated to the cause of sustainable development.In June of 1995, he was named Senior Advisor to the President of the World Bank. From December 1992 until December 1995, Mr. Strong was Chairman and Chief Executive Officer of Ontario Hydro, one of North America’s largest utilities. Mr. Strong is an advisor to the United Nations, and has been a director and/or officer of a number of Canadian, U.S. and international corporations.
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CCX Partners with China:
The CCX has partnered with China’s largest oil and gas producer and supplier CNPC and the City of Tianjin to develop sulfur dioxide emissions and water pollutants markets. The exchange has also teamed up with China’s central bank to establish a research institute in Chicago and Beijing to advance corporate and industrial use of emissions markets.
“They have their eye on the ball,” said Sandor. “I had lunch with the chairman, Governor Zhou, and he’s like their Ben Bernanke.
http://www.cnbc.com/id/36782147
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ABOUT the International Energy Credit Association, Inc (IECA)
HISTORY
The International Energy Credit Association, Inc. (IECA) is the oldest international industry credit association in the United States. Its membership includes companies located in the United States, Canada, most Western European countries, Mexico, South America, Asia, and Africa. Most recently, members were recruited in Mexico, South America and Asia. There are approximately 1,300 members representing over 500 large, medium, and small companies.
Historical highlights include:
- IECA was formed in 1923 as the Petroleum Refiners Bureau of the National Association of Credit Men (NACM), in Tulsa, Oklahoma. The purpose was to provide a credit reporting service to petroleum refiners on tank car accounts.
- The focus of the organization changed in 1941 and it became known as the Petroleum Division of the National Association of Credit Men (NACM).
- In 1946, a new set of by-laws was adopted including a name change to American Petroleum Credit Association.
- In 1979, the APCA became a Minnesota corporation and its new name became the American Petroleum Credit Association,Inc.
- In 1992, to reflect the international scope and character of its membership, the name of the association was officially changed to the International Petroleum Credit Association, Inc.
- In 1994, a second category of membership was added to include those companies that offer credit, financial or legal support services to the petroleum credit industry.
- In 1998, the name was changed to International Energy Credit Association, Inc. to reflect the changes in the marketplace and include credit professionals in the power/electricity segments of the industry.
IECA OVERVIEW
The IECA is the leading global membership organization for credit professionals in the energy industry. IECA is a not-for-profit association with over 1,300 individual members who are involved in energy credit management.
The IECA, formed in 1923, promotes the education and understanding of credit and risk management in relation to energy commerce. The IECA hosts four major conferences each year, two of which are located in the U.S., and one each in Canada and Europe.
Regular membership in the IECA includes credit, risk management and financial professionals from energy companies around the world. Allied members of the IECA are comprised of legal, financial, banking, risk consultants, technology, and information service organizations that provide key services to IECA’s regular members.
IECA also aims to encourage and enhance communications between credit professionals, practitioners and industry service providers worldwide. Through its conferences, events, publications and website, the IECA is a conduit to enhancing industry specific knowledge and increasing recognition of the global energy credit community.
http://www.ieca.net/about/index.cfm?cid=1023
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