The American Financial Exchange (AFX) announced today that Dr. Richard L. Sandor, chairman and CEO of the AFX has received an honorary degree from Fudan University’s School of Economics, in Shanghai, China in recognition of his contributions and achievements in the field of emissions trading. A ceremony in Shanghai, China, announcing Dr. Sandor’s appointment took place on June 15, 2021.
A keynote lecture by Dr. Sandor to faculty, students, government, and exchange officials followed the ceremony. A link to the presentation is available here. The link has been viewed online by over 42,000 people in China. At the end of June, China will launch its national emissions trading system (ETS).
“We recognize Dr. Sandor’s distinguished contributions and achievements in the field of emissions trading, and the close relationship between his work and the academic activities of our university,” said Professor Jun Zhang, Dean of School of Economics, Fudan University. “We are honored to have Dr. Sandor join our university.”
“I am honored by this professorship and to be part of one of the most significant universities in China,” said Dr. Richard Sandor. “I look forward to sharing my experience and knowledge with the faculty and students, and hopefully, contribute to the body of knowledge generated by the scholars of Fudan University especially as China approaches the launch and implements its national emissions trading program.”
In his keynote lecture, Dr. Sandor discussed how financial innovations emerge; his work in creating, developing, and launching market-based solutions to environmental issues, such as the Chicago Climate Exchange and the Tianjin Climate Exchange in China; and what lessons can be applied to China’s emerging national emissions trading scheme.
“The conversation between academics, business practitioners, regulators and exchanges is important in the development of well-functioning markets. The carbon trading forum organized by Fudan University and the Shanghai Environment and Energy Exchange will play a key role in China’s path to merge environmental protection with economic growth,” said Dr. Sandor. “The question-and-answer session of the event was truly unique and engaging. The questions were penetrating and could easily be the basis for academic journal articles and a significant number of Ph.D. dissertations. I strongly recommend viewers of the link focus on the Q&A portion of the talk.”
On the upcoming launch of China’s national ETS, Dr. Sandor said, “I offer my warmest congratulations on the official launch of China’s national carbon market, and on the official launch of national carbon emissions allowance trading on the Shanghai Environmental and Energy Exchange. Shanghai is a world-class financial center and a leader in academic excellence with Fudan and exchanges like the Environmental and Energy Exchange. I look forward to joining efforts with our friends in China in building a world class carbon market in Shanghai.”
Dr. Sandor’s civic honors include recognition from the City of Chicago as the “Father of Financial Futures.” In 2002 he was named by TIME Magazine a “Hero of the Planet.” In 2007 as one of the magazine’s “Heroes of the Environment” for his work as the “Father of Carbon Trading.” And in October 2013, Dr. Sandor was awarded the title of Knight of the Legion of Honor in France, for his accomplishments in the field of environmental finance and carbon trading. In addition, he holds an honorary degree of Doctor of Science, honoris causa, from the Swiss Federal Institute of Technology (ETH) for his environmental work.
Currently AFX membership across the U.S. includes 175 banks, and 1,000 correspondents, with combined asset of over $4 trillion. There are 44 non-banks that include insurance companies, broker-dealers, private equity firms, hedge funds, futures commission merchants, and asset managers. For more information about AFX or AMERIBOR®, visit www.ameribor.net.