Global Warming Solutions Act of 2006 a 30% reduction statewide, with mandatory caps beginning in 2012 for significant emissions sources. The bill also allows the Governor to suspend the emissions caps for up to a year in case of emergency or significant economic harm. The State of California leads the nation in energy efficiency standards and plays a lead role in environmental protection, but is also the 12th largest emitter of carbon worldwide. Greenhouse gas emissions are defined in the bill to include all of the following: carbon dioxide, methane, nitrous oxide, sulfur hexafluoride, hydrofluorocarbons and perfluorocarbons. These are the same greenhouse gases listed in Annex
Chicago Climate Exchange were intended to still be facilitated. Until July 2010, CCX was operated by the public company Climate Exchange PLC, which also owned the European Climate Exchange. Richard Sandor, creator of the Sustainable Performance Group, founded the exchange and has been a spokesman for it. The exchange traded in emissions of six gases: carbon dioxide, methane, nitrous oxide, sulfur hexafluoride, perfluorocarbons, and hydrofluorocarbons. CCX started trading in October 2003, prior to the commencement of trading in the European Union through the ETS system. IntercontinentalExchange (), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, announced in