NEW YORK, Feb 6 (Reuters) - The Chicago Climate Exchange Inc. (CCX) said on
Tuesday it had entered into an agreement to develop products with exchange
traded fund distribution company XShares Advisors LLC.
CCX is the only legally binding U.S. greenhouse gas emissions allowance
trading system. Member firms, which include Ford Motor Company (F.N: Quote, Profile
, Research)
and chemical company DuPont Co. (DD.N: Quote, Profile
, Research),
can trade carbon emission credits over the exchange that allow the right to emit
an amount of carbon dioxide over a specified period.
CCX is a subsidiary of Climate Exchange Plc (CEV.L: Quote, Profile
, Research),
which also owns the European Climate Exchange, the world's largest live carbon
emissions trading market. CCX is No. 2.
Carbon markets, which are meant to impose a cost on emitting greenhouse gases
blamed for global warming, put an overall limit on emissions but allow members
busting their caps to buy rights to emit greenhouse gases from those members
within their limits.
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