Father of Carbon Trading to Speak on "Good Derivatives," April 12
April 02, 2012
Richard Sandor, who has been at the epicenter of environmental and financial markets for more than four decades, will speak on his new book, Good Derivatives, at 7:30 p.m. Thursday, April 12, in room S480 at the Haas School.
Registration will be required for the Dean's Speaker Series event. Information on registration will be posted on the Dean's Speaker Series website as the event date approaches.
Sandor's book, Good Derivatives: A Story of Financial and Environmental Innovation, hits store shelves this month. In it, Sandor tells the story of how financial innovation, despite recent attacks, has been a positive force that can help address a variety of global problems.
Sandor founded the Climate Exchange family of companies, including the Chicago Climate Exchange, the world’s first and North America’s only voluntary, legally binding greenhouse gas cap-and-trade system; the Chicago Climate Futures Exchange, the world’s leading futures exchange for environmental products; and the European Climate Exchange, Europe’s leading exchange operating in the European Union Emissions Trading Scheme.
While on sabbatical from Berkeley's business school in the early 1970s, Sandor served as vice president and chief economist of the Chicago Board of Trade. During that time, he earned the reputation as the principal architect of the interest-rate futures market. He was honored by the city of Chicago in 1992 for his contribution to the creation of financial futures.
Later Sandor pioneered the use of emissions trading to reduce acid rain, one of the most successful environmental programs ever.
Time magazine honored Sandor as one of its "Heroes of the Environment" in 2007 and one of its "Heroes for the Planet" in 2002, both for his work as the "father of carbon trading."
Sandor is currently a professor of environmental finance at Peking University's Guanghua School of Management and a lecturer in law at the University of Chicago Law School.