The latest sign that climate change is gaining currency on Wall Street? Morgan Stanley vice chairman Jon Anda has left the bulge-bracket firm to start a new emissions-trading advocacy effort. Anda, 49, joined venerable New York based green group Environmental Defense last month to become president of the Environmental Markets Network. There he will recruit banking and finance gurus into a coalition pushing for a U.S. program to cap carbon emissions and to trade emissions credits. The group’s aim is to make such a program more palatable to Congress by advising it on how an emissions-trading market might be structured, specifically looking at how to handle derivatives, lending and clearing. “These are things that people on Wall Street are good at,” says Anda.
