Cargill joins CCX
March 01 2007 - 4:30AM
UK Regulatory
RNS Number:1171S
Climate Exchange PLC
01 March 2007
Press release
For immediate release
1 March 2007
CLIMATE EXCHANGE PLC
CARGILL, INC. TO BECOME A MEMBER OF THE CHICAGO CLIMATE EXCHANGE
The Chicago Climate Exchange, a wholly owned subsidiary of Climate Exchange Plc,
announces that Cargill, Inc., an international provider of food, agricultural
and risk management products and services, will join its exchange. The full text
of the press release follows:
Cargill Joins Chicago Climate Exchange
CHICAGO, March 1, 2007 - Global food and agricultural company Cargill,
Incorporated today announced it has become a member of the Chicago Climate
Exchange (CCX), the world's first and North America's only voluntary, legally
binding greenhouse gas emissions reduction, registry and trading program. In
joining, Cargill commits to achieve a six percent reduction in greenhouse gas
emissions at its U.S. operations by 2010, from a baseline of the company's
average greenhouse gas emissions during 1998-2001.
Cargill has established internal goals to improve energy efficiency, increase
use of renewable energy and reduce greenhouse gas intensity globally. So far,
Cargill has achieved a 10 percent improvement in energy efficiency and derives
over 8 percent of its energy from renewable sources.
Cargill is proud to intensify its commitment to environmental stewardship by
accepting legally-binding greenhouse gas emission reduction commitments in the
United States," said LaRaye Osborne, Cargill vice president and manager of
Environment, Health and Safety. "Our company is already engaged in greenhouse
gas cap-and-trade systems around the globe as a regulated entity, a liquidity
provider, and a developer of greenhouse gas reduction projects across our value
chain. This brings our commitment full circle by engaging our U.S. operations."
Welcoming Cargill, Dr. Richard Sandor, CCX Chairman and CEO said: "Cargill
is one of the world's leading agricultural and food companies and its CCX
membership establishes it at the forefront of market-based climate change
mitigation. We are proud to welcome Cargill to CCX and look forward to working
with Cargill's experts and to their contribution to the evolution of CCX."
About Cargill
Cargill is an international provider of food, agricultural and risk management
products and services. With 149,000 employees in 63 countries, the company is
committed to using its knowledge and experience to collaborate with customers to
help them succeed. For more information, visit www.cargill.com.
Chicago Climate Exchange, Inc. is the world's first and North America's only
legally binding rules-based greenhouse gas emissions allowance trading system,
as well as the world's only global system for emissions trading based on all six
greenhouse gases. CCX members are leaders in greenhouse gas management and
represent all sectors of the global economy, as well as public sector
innovators. Reductions achieved through CCX are the only reductions in North
America being achieved through a legally binding compliance regime, providing
independent third party verification provided by NASD and price transparency.
The Chairman and CEO of CCX is economist and financial innovator Dr. Richard L.
Sandor, who was named a Hero of the Planet by Time magazine for his work in
founding CCX. For a full list of CCX members, daily prices and other program
information, see www.chicagoclimateexchange.com. CCX is a wholly owned
subsidiary of Climate Exchange Plc, a public stock company listed on the AIM
Market of the London Stock Exchange. Climate Exchange Plc also owns the European
Climate Exchange, Europe's leading CO2 emissions exchange.
Contacts
Richard Sandor, Chairman, Climate Exchange Plc 001 312 554 3370
Neil Eckert, CEO, Climate Exchange Plc 0207 382 7801
David Haggie/Peter Rigby/Alexandra Parry, Haggie Financial 0207 417 8989
This information is provided by RNS
The company news service from the London Stock Exchange
END
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