NEW YORK (Reuters) - Chicago Climate Exchange credits for greenhouse gas emissions reductions have risen about 80 percent since mid-January, according to the bourse's data.
Representatives of CCX, which is owned by Britain's Climate Exchange, were not available to comment on the price rise.
Unlike every other developed country, the United States, the world's largest greenhouse gas emitter by many counts, does not regulate heat-trapping gases. Pressure to do so, however, is growing as the U.S. Congress mulls several greenhouse bills and leading presidential candidates say they would support the creation of a mandatory U.S. greenhouse gas market.
CCX members, including companies and cities, enter voluntary legally binding agreements to cut emissions by a certain amount and time. If they beat expectations, they generate extra credits that they can sell or bank. If they fail, they must purchase credits through the exchange.
(Reporting by Timothy Gardner)
