The Climate Exchange was created by a professor named Richard Sandor. In 2002, Time magazine called him a “Hero of the Planet” for that act.
But as the exchange’s own website suggests, companies bought and sold carbon as a public-relations exercise — to greenwash their operations in the eyes of the gullible media.
Don’t worry about poor Prof. Sandor, though. The Investors Business Daily reports he managed to sell his stake in the exchange for $98.5 million.
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