The exchange-based trading of carbon allowances in the US is underway over four months ahead of the official start of the Regional Greenhouse Gas Initiative [RGGI], which covers 10 states in the Northeast and Mid-Atlantic that have pledged to reduce 2010 greenhouse gas emissions to 10% below their 1990 levels. The RGGI states have put in place a regional cap-and-trade system to regulate CO2 emissions from power plants and the program is slated to officially begin on January 1, 2009. The Chicago Climate Futures Exc
