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Chicago Climate Exchange

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Learn more from the Center for Media and Democracy's research on climate change.

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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."[1]

Barack Obama involvement

Barack Obama was a member of the board of the Chicago Climate Exchange from 1998 to 2001.[2]

Joyce Foundation involvement

The Joyce Foundation was an early funder of the Chicago Climate Exchange, providing $12,000.[3][4]


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.[5]

Personnel

Contact Details

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

Articles and resources

Related SourceWatch articles

References

  1. "Overview", Chicago Climate Exchange website, accessed September 2008.
  2. "Chicago Climate Exchange Names Founding Members," Washington Post, 1/17/03
  3. "Chicago Climate Exchange Names Founding Members," Washington Post, 1/17/03
  4. Chicago Climate Exchange Targets Female Investors, The Glass Hammer, April 18, 2008
  5. Jessica Titlebaum Chicago Climate Exchange Targets Female Investors, The Glass Hammer, April 18, 2008

External articles

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