- WEB EXCLUSIVE
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The Chicago Climate Exchange (CCX) could make it easier for companies to earn carbon credits, the head of the exchange told Reuters in an interview.
According to the article, CCX chairman and CEO Richard Sandor told the news agency that he favors granting carbon credits to clean projects, such as maintenance and planting of trees, even if the actions occurred years earlier, in some cases before carbon markets existed.
Sandor's comments would seem to reverse the tenet of additionality, which held that carbon credits are only applicable in cases where an emission reduction would not have otherwise been accomplished.
The policy would reward companies that have already been "green" with regard to carbon emissions, giving credit for longstanding activities. Reuters gives the example of farmers being paid millions of dollars in carbon credits for no-till agriculture – leaving crop waste to decay in the soil – even though many had been doing the practice before the carbon market started trading in 2003.