(With opening remarks by Jesse Wang, Executive Vice-President, China Investment Corporation)
Richard Sandor is the Chairman and CEO of Chicago-based Environmental Financial Products LLC. He is currently a Lecturer at the University of Chicago Law School and a Distinguished Professor of Environmental Finance at the Guanghua School of Management at Peking University. He received his B.A. from the City University of New York, Brooklyn College and a Ph.D. in Economics from the University of Minnesota.
Sandor was honored by the City of Chicago for his contribution to the creation of financial futures and his recognition as the “father of financial futures.” In October 2007, he was honored as one of TIME Magazine’s “Heroes of the Environment” for his work as the “Father of Carbon Trading.”
He gave a first-hand account of his experiences as an inventor of new markets: in interest rates, air and water. As a young economist at the Chicago Board of Trade, Richard Sandor helped create interest rate futures, a development that revolutionized worldwide finance. Later, he pioneered the use of emissions trading to reduce acid rain in the U.S., one of the most successful environmental programs ever, and greenhouse gases. Sandor provided unique insights into the process of creating these financial instruments.
The following video recording of Richard Sandor’s talk held at the Center in Beijing, along with many other videos of University of Chicago events, can be found at mindonline.uchicago.edu.