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The Environmental Markets Association will honor Richard Sandor of the Chicago Climate Exchange with its 2010 John H. Dales Memorial Leadership in Environmental Markets Award during the EMA's Environmental Markets Summit held at the Sheraton New Orleans Hotel from April 25-27, 2010 in New Orleans, Louisiana. Dr. Sandor is being recognized for his long and extraordinary career in promoting environmental markets. Sandor, the "father of financial futures,” is Chairman and founder of the Chicago Climate Exchange (CCX), Chairman of the Chicago Climate Futures Exchange (CCFE), and Executive Chairman of Climate Exchange plc (CLE.L). Dr. Sandor will be presented with the award during the opening session on Monday, April 26, 2010.
Past recipients of the Dales Award include Lord John Browne, Chairman of BP, Jeffrey Immelt, Chief Executive Officer of GE, Brian McLean, US EPA and Jeff Bingaman (D-NM). The award is presented to an organization and/or an individual who has made significant progress towards adapting to environmental challenges and/or influencing other companies or groups to address environmental challenges.
The recipient of the award must embody a forward-thinking approach with market-based solutions applicable to their industry. The recipient must have demonstrated extraordinary progress in integrating the costs of pollutants traded on environmental markets into both the operational and planning aspects of their organization (or influenced other organizations to do so); and the recipient must be an advocate for the importance of environmental markets as an innovative tool in government regulation.
The award is offered in memory of John H. Dales, Professor Emeritus of Economics from the University of Toronto, who first developed the concept of tradable emission permits in his landmark 1968 work "Pollution, Property and Prices." Dr. Dales died late last year.
