“I am happy to have gotten the unanimous support from the other 12 members of the Board of County Commissioners,” said Commissioner Seijas. “This is an important step forward to sealing the deal and making it clear that Miami-Dade is serious about reducing carbon emissions.”

In addition to the application for membership, the Chicago Climate Exchange, Inc. documents approved by the Board included an authorization agreement and a letter of commitment between Miami-Dade County and the Chicago Climate Exchange, Inc. 

The Chicago Climate Exchange is the world’s first and North America’s only greenhouse gas emission registry, reduction and trading system. Members of the Exchange make a voluntary, but legally binding commitment to reduce greenhouse gas emissions by a set percentage over a specified period of time – essentially offsetting the negative impact each agency makes on the environment. Miami-Dade County’s application specifies a six percent reduction in emissions by 2010.

Members of the Chicago Climate Exchange reduce their emissions to the targeted level or are required to purchase emission allowances to mitigate the effects of their emissions over the target.  If there are no reductions by the County over the next three years, the cost of purchasing those allowances could range from $280,000 to $300,000.  CCX measures emissions from fossil fuel combustion, manufacturing processes and vehicles using continuous emission monitors or other methods.

Other municipal members include Aspen, Colorado; Boulder, Colorado; Oakland, California and Portland, Oregon.  Multi-national companies such as IBM, Ford Motor Company, Rolls-Royce, DuPont and Motorola are also Exchange members.

For information about the Chicago Climate Exchange, go to http://www.chicagoclimatex.com.