Richard Sandor is known to many as the father of financial futures for his contributions to the development of interest rate futures in the 1970s. But Sandor is also the architect of the cap and trade market that brought acid rain under control in the 1990s.
Now, as founder and CEO of the Chicago Climate Exchange, a voluntary but legally binding market for trading emissions, including carbon dioxide, Sandor and his exchange could prove crucial to the climate change policy of either a McCain or Obama administration.
Sandor recently sat down with News21 reporters at his office near the Board of Trade to answer questions on the economics of trading polluted air, the best way to allocate carbon credits, his greatest accomplishments as a financial innovator and other topics.
Check out his answers and decide for yourself whether you think markets can save the environment.
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