Friday, January 4, 2008
The University of California San Diego has become the first school on the West Coast to join the Chicago Climate Exchange. The exchange is North America's only voluntary, legally binding trading carbon trading system. KPBS Reporter Ed Joyce has the story.
UC San Diego is only the seventh university in the nation to join the climate exchange. Joining the exchange is part of the school's program to conserve energy and reduce greenhouse gases. Because the school operates a cogeneration facility that supplies about 90 percent of the campus's electricity, it's able to sell the surplus greenhouse gas credits on the open market.
The Chicago exchange is what's known as a "cap-and-trade" emission trading system, because it mandates an emissions limit or cap. An institution that goes below the limit - such as UCSD - can sell its surplus, while those above the limit can buy surplus credits from other traders.
UCSD Vice Chancellor for Business Affairs Steven Relyea says joining the exchange is part of the school's effort to reduce its carbon footprint. Ed Joyce, KPBS News.