CHICAGO, IL -Secretary Spencer Abraham participated in the opening of the Chicago Climate Exchange (CCX) today in Chicago, IL.  The Secretary highlighted President Bush's climate programs and promoted voluntary, market-based approaches to reducing greenhouse gas emissions.  CCX is a voluntary private sector cap-and-trade program that will use free enterprise principles to achieve the most cost-effective greenhouse gas emissions reductions possible.

"The Chicago Climate Exchange demonstrates that American businesses are willing to find creative solutions to the problem of global climate change," said Secretary Abraham.

"The Bush Administration understands that the issue of climate change is a long-term challenge, but we must begin work immediately," said Secretary Abraham.  "Our efforts will focus on sound science, new technologies, international cooperation and innovative solutions that are consistent with the growing economy."

"The voluntary Chicago Climate Exchange is consistent with those objectives and I applaud this effort," said Secretary Abraham.

President Bush set an ambitious commitment to reduce greenhouse gas intensity by 18 percent over the next 10 years.  By 2012, the goal is to reduce emissions by 100 million metric tons and to reduce carbon-equivalent emissions by more than 500 million metric tons - an amount equal to taking 70 million cars off the road. 

Several presidential initiatives and programs have been launched to meet these goals.  They include DOE's Climate VISION, Energy Star and Energy Savers programs, improvements to the voluntary greenhouse gas-reporting program, tax credits for renewable energy and energy efficiency technologies, and the Environmental Protection Agency's Climate Leaders program.

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