NEW YORK One contract representing Kyoto Treaty
greenhouse gas reductions traded on the Chicago Climate Futures
Exchange on Friday, the first such trade to take place in the
United States, a trade source said.
The CCFE launched trade on the certified emissions
reductions contract on Friday. December 2008 CER futures
settled 25 cents weaker at $21.60.
One contract, representing a reduction of 1,000 metric tons
of carbon dioxide equivalent, changed hands, the source said.
CERs represent emissions reductions under Kyoto's clean
development mechanism projects that allow companies in rich
countries that ratified the protocol to meet their emissions
requirements by investing in the clean projects in developing
Often the projects cut emissions by destroying greenhouse
gases at places like coal mines and chemical plants.
CCX is a subsidiary of Climate Exchange Plc, which also
owns the European Climate Exchange, the world's largest live
carbon emissions trading market.
For more information on CER prices visit