Chicago Climate Exchange
The Chicago Climate Exchange is a voluntary North American carbon cap and trade system with hundreds of private and public sector members.
As a member of the Chicago Climate Exchange (CCX), the City of Berkeley is obligated to reduce greenhouse gas emissions associated with municipal operations, including consumption of natural gas, electricity and motor fuels. If the City of Berkeley does not achieve the required reductions, it must purchase carbon credits from other members that have exceeded their targets.
The CCX has independently verified that the City of Berkeley reduced its emissions by 7-10% in 2003, 2004 and 2005 and that emissions rose only slightly in 2006. Berkeley has chosen not to trade the excess credits it has accumulated since 2003 thereby ensuring that all Berkeley residents enjoy the reduction in greenhouse gasses.