Richard L. Sandor is chairman and chief executive officer of Environmental Financial Products LLC, which specializes in inventing, designing, and developing new financial markets with a special emphasis on investment advisory services. EFP was established in 1998 and was the predecessor company and incubator to the Chicago Climate Exchange (CCX), the European Climate Exchange (ECX) and the Chicago Climate Futures Exchange (CCFE). He is also the author of Good Derivatives: A Story of Financial and Environmental Innovation, published in 2012.
A financial innovator known as the “father of financial futures,” he has been at the epicenter of environmental and financial markets for more than four decades. He founded what became the Climate Exchange family of companies including: the Chicago Climate Exchange (CCX), the world’s first and North America’s only voluntary, legally binding greenhouse gas cap-and-trade system; the Chicago Climate Futures Exchange (CCFE), the world’s leading futures exchange for environmental products; and the European Climate Exchange (ECX), Europe’s leading exchange operating in the European Union Emissions Trading Scheme. Additional global affiliates included the Tianjin Climate Exchange in China, the Montreal Climate Exchange in Canada and Envex in Australia. In August 2002 TIME Magazine chose Sandor as one of its “Heroes for the Planet” for his work as the founder of the CCX. In October 2007 Dr. Sandor was honored as one of TIME Magazine’s “Heroes of the Environment” for his work as the “Father of Carbon Trading,” and in October 2012 he was presented with the World Federation of Exchanges Award for Excellence.
Sandor is a Lecturer in Law at the University of Chicago Law School, a Visiting Fellow with the Smith School of Enterprise and the Environment at the University of Oxford, and a Distinguished Professor of Environmental Finance at the Guanghua School of Management at Peking University. He is also a member of the International Advisory Council of Guanghua School of Management at Peking University and a member of the TERI School of Management Advisory Committee in India. Sandor previously taught at the University of California, Berkeley, Stanford University, Columbia University Graduate School of Business and the Kellogg Graduate School of Management at Northwestern University.