Richard L. Sandor, Ph.D., Dr., Sc.h.c.
Richard L. Sandor is chairman and chief executive officer of Environmental Financial Products LLC, which specializes in inventing, designing, and developing new financial markets with a special emphasis on investment advisory services. EFP was established in 1998 and was the predecessor company and incubator to the Chicago Climate Exchange (CCX), the European Climate Exchange (ECX) and the Chicago Climate Futures Exchange (CCFE). Dr. Sandor is the author of Good Derivatives: A Story of Financial and Environmental Innovation, published in 2012, and the lead author of Sustainable Investing and Environmental Markets: Opportunities in a New Asset Class, published in 2015 (by World Scientific). His new book “How I Saw It: Analysis and Commentary on Environmental Finance (1999–2005)” was also published by World Scientific in late 2016.
He is also Chairman and CEO of the American Financial Exchange (AFX), an electronic marketplace for small and mid-sized banks to lend and borrow short-term funds. Additionally, Dr. Sandor is the Aaron Director Lecturer in Law and Economics at the University of Chicago Law School and a Visiting Fellow with the Smith School of Enterprise and the Environment at Oxford University. He was honored by the City of Chicago for his universal recognition as the “father of financial futures”. In 2002 he was named by TIME Magazine a “Hero of the Planet”; and in 2007 as one of the magazine’s “Heroes of the Environment” for his work as the “Father of Carbon Trading.”
In October 2013, Dr. Sandor was awarded the title of Chevalier dans l’ordre de la Légion d´Honneur (Knight in the French National Order of the Legion of Honor), for his accomplishments in the field of environmental finance and carbon trading. He holds an honorary degree of Doctor of Science, honoris causa, from the Swiss Federal Institute of Technology (ETH).
Dr. Sandor is a Board a Member of the Advisory Board of the Center for Financial Stability; and a Senior Fellow of the Milken Institute. He served on the board of directors of leading commodity and futures exchanges in the United States and Europe.
Ed Berko is managing director, Chief Operations Officer and Chief Financial Officer. Ed has more than 25 years of C-suite experience in the financial services industry. He has worked at financial services companies and companies that provide consulting services and technology solutions to the financial services industry. These companies include: Centre Financial Products Limited, a joint venture with Zurich Insurance; MetLife, Inc.; Protective Life Corporation; Economical Mutual Insurance Company; and IQ Financial Systems, a wholly owned subsidiary of Bankers Trust.
Prior to his business career, Mr. Berko served for nine years as an officer on guided missile destroyers in the United States Navy. Mr. Berko was awarded the Navy Commendation Medal for meritorious service.
Mr. Berko received a Bachelor of Science degree in marine engineering at the United States Naval Academy in Annapolis, and a Master of Business Administration in finance at The Wharton School of Business at The University of Pennsylvania. Mr. Berko is a licensed professional engineer (PE) in mechanical engineering.
Rafael L. Marques
Rafael Marques is Managing Director of Environmental Financial Products. Prior to this position Marques served as Senior Vice President of the Chicago Climate Exchange (CCX) where he was actively involved in all phases of the feasibility and design phases of the Chicago Climate Exchange and worked on the program’s membership outreach and expansion into Latin America . He also worked in research relating to business opportunities in carbon sequestration and sustainable forestry management.
He was also actively involved in the development and implementation of CCX international activities and joint ventures. Marques previously worked as a researcher at the Brazilian Embassy in Washington, where his responsibilities included research and analysis of trade-related issues. Marques was also a lecturer in Economics at the University of Illinois, Chicago.
Marques attended several Conference of the Parties to the United Nations Framework Convention on Climate Change as both a delegate and presenter. He has lectured on the subject of market-based solutions to environmental problems at Northwestern University, the University of Illinois, Brazil, India and China. He co-authored articles on the Chicago Climate Exchange published by the United Nations Conference on Trade and Development and by Britain’s Royal Society.
Marques is a native of Brazil and holds a Bachelor of Arts degree from Luther College and a Master’s degree in Economics from the University of Illinois at Chicago. He also studied for one year at the University of Nottingham (England) under an honors program.