- September 04, 2008
CHICAGO, IL | Boise Inc. has become a member of the Chicago Climate Exchange (CCX), the world's first and North America's only voluntary, legally binding integrated greenhouse gas emissions reduction, registry and trading system. As part of its membership in CCX, Boise Inc. has made a voluntarily but legally-binding commitment to achieve an absolute greenhouse gas emission reduction of 6% below its baseline—a four-year average of the years 1998 to 2001—by the end of 2010.
CCX operates a cap-and-trade system. Members who beat the targets have surplus allowances to sell or bank, and those who have emissions above the targets must purchase CCX Carbon Financial Instrument contracts to achieve compliance. Third-party verification is provided by the Financial Industry Regulatory Authority (FINRA), a leading financial regulator in the US.
Alexander Toeldte, president and CEO, Boise Inc., said the company has already reduced fossil fuel use per ton of production at its paper mills by 28% from 1996 to 2007 and increased its renewable energy use to 64% of total energy consumption during the same period.
"We are committed to comprehensive sustainability in our social, environmental, and economic actions," said Toeldte. "Reducing energy use improves our financial performance and supports our stewardship principle of managing our businesses to sustain environmental resources for future generations. Our participation in the Chicago Climate Exchange will allow us to capture greater value from our greenhouse gas reduction efforts.”