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Key Features


The CCX Tradable Commodity: The Carbon Financial Instrument® (CFI®).  Each CFI contract represents 100 metric tons of CO2 equivalent (CO2e).   

Geographic Coverage: Emission sources and offset projects worldwide.

Emission Targets and Timetable: Phase I (2003-2006) emission reduction targets were 1% per year, below an average of baseline period 1998-2001. Phase II parameters extend the reduction period through 2010, with an additional 2% reduction commitment for Phase I Members and a total of 6% reduction commitment by 2010 for new Members joining in Phase II.

Emission Baseline: Average of annual emissions during years 1998 through 2001 or the single year 2000 for new Phase II Members.

Gases Included: Emissions of the following six GHGs from facilities owned by CCX Members are covered, as applicable. 

  • carbon dioxide (CO2)
  • methane (CH4)
  • nitrous oxide (N2O)
  • hydrofluorocarbons (HFCs)
  • perfluorocarbons (PFCs)
  • sulfur hexafluoride (SF6)

Emissions of all non-CO2 GHGs are converted to metric tons CO2e using the one-hundred-year Global Warming Potential (GWP) values established by the Intergovernmental Panel on Climate Change.

Emission Offsets: Issued to owners or aggregators of eligible offset projects that sequester, destroy or displace GHGs. Offsets are issued after mitigation occurs and required verification documentation is presented to CCX. 

Eligible offset project categories include, but are not limited to:

CCX has developed standardized rules for issuing CFI contracts for the following types of  projects:

Other project types, to be approved on a project-by-project basis, may include: