Although the United States has not ratified Kyoto, many US-based industries and multinational corporations have committed to reducing their carbon emissions. Fueled by their concern to compete with other Annex I countries, companies have taken steps to become more sustainable. Tangible evidence of this is the Chicago Climate Exchange (CCX), the world’s first and North America’s only active voluntary emissions trading scheme.

The system involves the reduction of all six major greenhouse gases (GHG) and supports global offset projects. Projects range from forestry carbon, ozone destruction, renewable energy, agriculture and mining. Since inception in 2003, the member list has grown to include New Mexico (first state to join in 2005), DuPont, Ford Motor Company, New Belgium Brewing Company, Sony Electronics, Bank of America and more. The Exchange expanded to the European market in 2005, with the European Climate Exchange now operating as the leading exchange in the EU Emissions Trading Scheme.

CCX and other carbon-based schemes provide great opportunities for companies to stay competitive, build international reputations, be more sustainable and become familiar with the newest form of currency  - carbon.