Chicago Climate Exchange Formed to Reduce Greenhouse
Houston, TX - Waste Management Inc. announced that it
is one of 14 companies to join the Chicago Climate Exchange (CCX) as a
founding member. CCX is a non-governmental entity established to develop
a voluntary marketplace for reducing and trading greenhouse gas emissions.
"For more than 15 years, Waste Management has combined state-of-the-art
technology with environmental and operational expertise to significantly
reduce greenhouse gas emissions from our landfills," said A. Maurice
Myers, chairman, president and CEO of Waste Management Inc. "We are
pleased to be part of a group that is dedicated to finding innovative
ways to address climate change issues."
Waste Management became one of the original design phase members of CCX
in 2001. As a founding member, Waste Management has made a commitment
to reduce its emissions of greenhouse gases by four percent below the
average of its 1998-2001 baseline by 2006, the last year of the pilot
program. Waste Management also will be able to receive credit for its
reductions and to buy and sell credits in order to find the most cost-effective
way of achieving reductions.
Waste Management generates significant amounts of greenhouse gas credits
through the operation of its landfill gas collection and control systems,
its landfill gas beneficial use projects, and its waste-to-energy business,
Wheelabrator Technologies Inc.
Waste Management, over the last 15 years, has been developing landfill
gas-to-energy projects. The gas, which would otherwise be wasted, is a
readily available, renewable energy source that can be gathered and used
directly as medium BTU gas for industrial use or sold to gas-to-energy
plants to fuel engine generators that, in turn, generate electricity.
Waste Management's waste-to-energy business, Wheelabrator Technologies
Inc., uses trash as fuel to produce energy at its 16 waste-to-energy facilities
across the U.S. of renewable electric energy per hour.