Richard Sandor
Senior Fellow; Chairman and CEO, Environmental Financial Products LLC; Lecturer in Law and Economics, University of Chicago
Environment & Natural Resources, Finance, Financial Innovations


Dr. Richard L. Sandor is chairman and CEO of Environmental Financial Products LLC, which specializes in inventing, designing, and developing new financial markets with a special emphasis on investment advisory services.

A financial innovator known as the "father of financial futures," Sandor has been at the epicenter of environmental and financial markets for more than four decades. He 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. Additional global affiliates included the Tianjin Climate Exchange in China, the Montreal Climate Exchange in Canada and Envex in Australia.

Sandor is a Distinguished Professor of Environmental Finance and a member of the International Advisory Council at the Guanghua School of Management at Peking University; a lecturer in law at the University of Chicago Law School; 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's Graduate School of Business and the Kellogg Graduate School of Management at Northwestern University.

While on sabbatical from Berkeley in the early 1970s, he 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. Sandor was honored by the city of Chicago in 1992 for his contribution to the creation of financial futures.

Time magazine honored Sandor as one of its "Heroes of the Environment" in 2007 and as one of its "Heroes for the Planet" in 2002, both for his work as the "Father of Carbon Trading." He is the recipient of the 2008 Financial Management Association's Outstanding Financial Executive Award, Ernst & Young's 2009 Entrepreneur of the Year Award in the "green" category, and the 2010 John H. Dales Memorial Leadership in Environmental Markets Award from the Environmental Markets Association.

Prior to the creation of the Chicago Climate Exchange, Sandor was a senior financial markets executive with Kidder Peabody, Banque Indosuez and Drexel Burnham Lambert. Sandor is currently a director of American Electric Power and The Volatility Exchange.

Sandor received his B.A. from the City University of New York, Brooklyn College, and his Ph.D. in economics from the University of Minnesota.