Dr. Armin Sandhövel is Head CorporateSustainability/Reputational Risk at Dresdner Bank AG in Frankfurt a.M.and Head of the Allianz Climate Core Group.His unit is part of the Office of the Chief Risk Officer of DresdnerManagement BoardHe is furthermore focused on Emissions Trading, Carbon Risk Managementand Climate Change trends in particular and sustainable banking ingeneral.He chairs the Climate Change Group of UNEP FIHe is advisor of national and international institutions, e.g. EuropeanCommission, German Environmental Protection Agency, German TechnicalCo-operation Agency, KfWLecturer at the University of Münster (Germany) and the EconomicAcademy in Berlin,From 1993-2001 Project Manager of the German Council of EnvironmentalAdvisors, an advisory body and think tank of the German Government.He has written numerous books and articles/papers, latestPossible financial products to hedge against risk in emissions tradingIn: UNEP FI (Ed.), Values to Value. A Global Dialogue on SustainableFinance. Geneva 2004. pp. 22-24 (=UNEP) (with S. Lafeld)Emissions Trading: The impact of the Kyoto Protocol on corporate riskmanagement. In: Euromoney Derivatives and Risk Management Handbook2004. (with I. Ramming and S. Lafeld).