New Mexico Joins Chicago Climate Exchange

New Mexico has become the first state in the U.S. to join the Chicago Climate Exchange (CCX), the nation’s only market-based cap-and-trade system designed to reduce greenhouse gas emissions. The state hopes to reduce its emissions to 2000 levels by 2012, 10% below 2000 levels by 2020, and 75% below 2000 levels by 2050. CCX membership is legally binding, so New Mexico must purchase credits to offset any emissions above its reduction goals. “We want to save money, use energy wisely, and help combat climate change,” says Bill Richardson, governor of New Mexico and former secretary of the U.S. Department of Energy. “By joining CCX, state government is setting an example that I hope other municipalities and businesses will follow.” CCX is online at www.chicagoclimatex.com.