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Sandor advocated an emissions trading program similar to the one he'd put forward for acid rain, and his thoughts helped shape the Kyoto Protocol, which requires developed nations to reduce their emissions and created a carbon trading and offset market to speed that process along. In the late 1990s he began formulating the Chicago Climate Exchange (CCX), a private emissions trading market, to take advantage of the changes he assumed would be coming when the U.S. ratified Kyoto. Of course, that never happened, but Sandor still launched...
...late 1980s he turned his attention to air pollution. At the time, one of the biggest environmental threats facing America was forest-killing acid rain, due chiefly to rising levels of sulfur dioxide (SO2) and nitrogen oxide (NO) from coal power plants, factories and cars. The answer was simple - reduce those emissions - but the way to get there wasn't. (Any similarities to where we stand on global warming are purely intentional.) The government could simply mandate reduced emissions, or force power plants to install expensive SO2 and NO scrubbers, but that might not be efficient. To Sandor, the answer...
...environmentalists, the idea of essentially recognizing a company's right to pollute - even while requiring them to reduce that pollution - was anathema, as if it made some form of pollution O.K. But you can't argue with results - emissions of SO2 and NO have dropped drastically, as has acid rain. Emissions trading worked because by pricing the air, it helps drive innovation towards pollution control and efficiency, funded in part by the value of the emissions trading market. (Companies that spent to lower their emissions beneath the cap could recoup that investment by selling their excess emissions credits.) Just...
...voluntary market like CCX will never be enough. What's needed is a mandatory carbon cap in the biggest carbon market of all - the U.S. If and when that happens, we may see carbon emissions drop as rapidly as SO2 and NO has fallen under Sandor's acid rain market - without emptying our national wallet. "I'm optimistic," says Sandor. "The potential [cap-and-trade] legislation is moving in the right direction. If we design the building right, it won't punish the economy." On this Earth Day, as we grapple with worsening climate change, we should take time...
This year’s concert—which took place on a warm, sunny afternoon—was significantly better-attended than last year’s, which featured Third Eye Blind in the rain. The College Events Board (CEB) estimated that 7,000 people were present for Wu-Tang and about 5,000 stayed for Gavin DeGraw. They said 1,500 to 2,000 people attended last year’s show...