This content is from: Home

Carbon Counter

Chicago Climate Exchange names Satish Nandapurkar its first president.

Carbon trading in the U.S. is a voluntary act — there is no federally sanctioned market because the country hasn’t ratified the Kyoto Protocol on climate change — but don’t tell that to the Chicago Climate Exchange, whose ranks have swelled from 13 trading members in 2003 to 450 today. In the process, the exchange has gotten too big for visionary founder and CEO Richard Sandor, 67, to manage while lobbying for a mandatory cap-and-trade system. So he has tapped Satish Nandapurkar to be CCX’s first president. Nandapurkar, 44, formerly of the Chicago Mercantile Exchange and U.S. Futures Exchange, is overseeing the daily operations of the 50-employee emissions market and its companion Chicago Climate Futures Exchange. “Mandatory cap-and-trade will be a big event for us,” he says. “Now Richard can spend more of his time trying to make that happen.”