Phase II of the commitment commenced in 2007. CCX Members committed to a reduction schedule that requires year 2010 emission reductions of six percent below baseline at minimum. CCX membership grew 32 percent from 2007-2008, totaling 397 members as of June 2008. Membership spans all major economic sectors and now represents 17 percent of the companies in the Dow Industrial Average Index including DuPont, Bank of America, Intel, IBM, and United Technologies; 11 percent of the Fortune 100 including Ford Motors, Motorola, Honeywell, International Paper, and Safeway; and 20 percent of the U.S. Electric Power Utility Sector including American Electric Power, Reliant Energy, Allegheny Energy, and DTE Energy.
CCX has members on five continents, including North America, South America, Asia, Europe, and Australia, with member operations in all lower 48 U.S. states and offset projects in 26 U.S. states.
- Added new CCX members including Cargill, Inc., Smithfield Foods, United Technologies, Associated Electric Cooperative Inc., Intel, Kodak, and Sony Electronics.
- Added global members from Brazil and Chile who committed to the CCX reduction schedule, including Rhodia Energy - chemical, Petroflex S.A. - petrochemicals, Votorantim Papel e Celulose (VCP) - forestry, Companhia Belgo-Mineira - steel, and Masisa (Chile) - forestry.
- Added several cities to CCX including City of Melbourne (first city outside North America); Sacramento County, California; Miami-Dade County, Florida; as well as the state of Illinois, and others.
- Grew CCX membership to over 300 members from all major sectors; achieved a membership growth of 32 percent in the first five months of 2007.
- 9.7 million tons of CO2e were traded on the CCX platform, a 78 percent increase from the same period in 2006. As of May 2007, 21.9 million metric tons of CO2e had traded on the CCX platform.
- Announced the formation of the California Climate Exchange to develop and trade financial instruments relevant to the California Global Warming Solutions Act, AB32, signed by Governor Arnold Schwarzenegger, which calls for a mandatory reduction in California's greenhouse gas emissions as of 2012, with mandatory reporting of emissions to commence in 2008.
- By the end of Phase I (December 2006), current members had reduced direct emissions to four percent below a baseline period of 1998-2001. Phase II, which extends the CCX reduction program through 2010, will require all members to reduce greenhouse gas emissions six percent below baseline.