Abbott — the global health care company — 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, Abbott has voluntarily committed to achieving an absolute greenhouse gas emission reduction of six percent below its baseline year of 2000 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), which is the leading financial regulator in the United States.
“We welcome Abbott as the largest health care company to join CCX. By joining, Abbott continues to show that it is good for businesses worldwide to be proactive on the issue of climate change,” said Dr. Richard L. Sandor, CCX’s Chairman and CEO. “Abbott’s membership underscores the importance of having a third-party verified, rules-based system such as CCX that can complement and enhance corporate sustainability and greenhouse gas mitigation initiatives already underway. CCX and its members look forward to working with them as they bring their experience and know-how to this important issue.”
Last year, Abbott became the first FORTUNE 500 company to commit to going "carbon neutral" with its U.S. fleet of vehicles by offering hybrid cars and other greener vehicles, and committing to purchase carbon credits from the Chicago Climate Exchange to offset remaining vehicle emissions. Abbott also recently completed installation of its second major solar panel project at its vascular manufacturing facility in Southern California. This large, 500-kilowatt hour solar panel could power more than 100 homes for a year. The company's first solar installation, completed in 2006, located at its plant in Delkenheim, Germany, reduces CO2 emissions by 19 metric tons per year.
Abbott's ongoing commitment to sustainable business practices has led to the company being named for the past three years to the Dow Jones Sustainability World Index (DJSI World) in recognition of the company's leading economic, social and environmental performance. Abbott is also a member of EPA Climate Leaders.
