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Dr. Richard Sandor, renowned financial innovator and entrepreneur, has just won the Energy Risk Lifetime Achievement Award. Sandor is one of 20 industry veterans to receive the honor, marking 20 years since the launch of Energy Risk magazine in 1994.
The magazine selected individuals who have helped shape the evolution of the global commodity and energy markets.
Mark Pengelly, Editor of Energy Risk, said: "With his pioneering work in the area of carbon credits and acid rain, Richard has achieved something few industry veterans can boast of: coming up with the ideas and infrastructure of a market in an entirely new commodity. So we are rightly acknowledging his contribution with this prestigious accolade."
Sandor said: “I am greatly honored to receive this award from Energy Risk. I hope that the lessons learned in my 40 years in the commodities and futures industry will be of some value to future entrepreneurs and innovators. We are at the dawn of a new age where we can create markets to address the most important challenges facing humankind. We should encourage the use of good derivatives – those that are regulated and transparent – which have a critical role to play in markets like water pollution and in important economies such as China and India.”
The judging panel included the publication’s editorial team, with input from select external industry participants. Profiles of all 20 winners will appear next month on Risk.net and in Energy Risk, available in print and as a downloadable app.
Last year, Sandor received the French Legion of Honor Award, the highest decoration granted by the government of France. In 2007, TIME Magazine named him one of its “Heroes of the Environment” for his work as the “Father of Carbon Trading.” The City of Chicago honored Sandor in 1992 for his contribution to the creation of financial futures and his universal recognition as the “father of financial futures.” He is the author of “Good Derivatives: A Story of Financial and Environmental Innovation.”
Sandor is Chairman and Chief Executive Officer of Environmental Financial Products LLC, which specializes in inventing, designing, and developing new financial markets. Established in 1998, EFP was the predecessor company and incubator to the Chicago Climate Exchange (CCX), the European Climate Exchange (ECX) and the Chicago Climate Futures Exchange (CCFE).
