Chicago Climate Exchange

The Chicago Climate Exchange describes itself as "the world's first and North America’s only active voluntary, legally binding integrated trading system to reduce emissions of all six major greenhouse gases (GHGs), with offset projects worldwide."

Barack Obama involvement
Barack Obama was a member of the board of the Chicago Climate Exchange from 1998 to 2001.

Joyce Foundation involvement
The Joyce Foundation was an early funder of the Chicago Climate Exchange, providing $12,000.

Philosophy of Richard Sandor
A participant in a meeting between founder Richard Sandor and 40 potential investors described Sandor's philosophy as follows:
 * Richard Sandler believes that the capital markets can solve global warming and make money doing it. He explained his theory on wealth creation, which grew out of the economic situation in the 1960’s.  He said that fifty years ago, wealth was concentrated in the manufacturing industry.  He explained that the ‘70’s were about commodities and then in the 80’s the market moved into the commoditization of financial products such as interest rates and derivatives.  In the 90’s, he said, the commodities of information like Google and Yahoo ruled.  What does he say about the 21st century?  He believes that wealth will be created in the commoditization of air and water.

Personnel

 * Richard Sandor, Chairman and Chief Executive

Contact Details
Website: http://www.chicagoclimatex.com/

Related SourceWatch articles

 * Accra Climate Change Talks 2008
 * Clean Development Mechanism
 * COP14
 * COP15
 * Emissions Trading
 * Joint Implementation
 * The Joyce Foundation and global warming
 * Kyoto Protocol
 * United Nations Framework Convention on Climate Change

External articles

 * "World Carbon Standards to Relax - CCX Head", Reuters, September 15, 2008.