Senator Lugar Recognizes Innovative Environmental Program on Earth Day

Press Release

Chicago Climate Exchange and National Farmers Union Help Indiana Farmers Harvest Benefits of Environmental Services

Friday, April 20, 2007

The following press release was drafted by the Chicago Climate Exchange and National Farmers Union

To celebrate Earth Day Senator Richard Lugar will recognize the partnership between Chicago Climate Exchange (CCX) and National Farmers Union (NFU) that allows Indiana farmers and landowners to earn greenhouse gas emissions credits when they practice conservation tillage, or plant grasses and trees. These conservation practices remove carbon dioxide from the atmosphere and store it in soil and plants. Indiana currently has over 25,000 acres enrolled in conservation practices aggregated by the NFU.

The Chicago Climate Exchange (CCX®) established rules that allow greenhouse gas benefits from conservation practices to be quantified, credited and sold. The credits are aggregated, or pooled, from many different producers and landowners in order to sell them to CCX members that have made voluntary, legally binding commitments to reduce their greenhouse gases. CCX is the world's first and North America's only voluntary, legally binding greenhouse gas emission reduction, registry and trading program.

"I want to congratulate the innovative work that my fellow Hoosier farmers are doing by engaging in carbon-absorbing environmental practices. These practices help the environment and present a new opportunity to increase farm income. I would like to commend the efforts of the National Farmers Union and Chicago Climate Exchange are doing in Indiana and other states to help promote these opportunities among our industries, communities and landowners and I would encourage other agricultural and environmental organizations to engage in similar practices," Lugar said.

"From the beginning, America's farmers have provided an abundant supply of high quality food and fiber for our citizens. Today, America's farmers are playing a bigger role in fueling our nation, and with the carbon credit trading program are helping to address our nation's and the world's environmental challenges," said NFU President Tom Buis.

"Farmers are the original stewards of the land and excellence in environmental stewardship can go hand-in-hand with financial rewards. We are proud to highlight the work done by CCX Offset Aggregator National Farmers Union in working with Indiana farmers to bring their carbon credits to the CCX market," said Dr. Richard L. Sandor, Chairman and CEO of CCX. The event will be held at Lugar Stock Farms, Inc., a farm owned by Senator Lugar and his family. The farm has joined CCX as a provider of tradable greenhouse gas emission Offsets in May 2006.

The 604-acre family-owned farm in Marion County, Indiana produces corn and soybeans. A third of the farm is a classified hardwood tree farm, including significant acreage in black walnut trees that were planted in recent years. Growth of these trees produces oxygen and removes carbon dioxide from the air.

"We would also like to thank Lugar Stock Farms' membership in CCX, which demonstrates Senator Lugar's long-standing personal commitment to sustainable agriculture and forestry. He understands the role that market-based mechanisms can play in rewarding the environmental services provided by farmers, foresters and ranchers. We are honored and proud to be able to further build this environmental market with the help of Senator Lugar's farm as a source of emission Offsets."

Source