AMWatch

Ex-Enron trader discovers greed is good — for the environment

Founder and CIO of hedge fund Northlander Commodity Advisors Ulf Ek argues greed can be a wonderful thing when it works for the benefit of the environment. The long-term energy trader started a new fund this year — the Northlander Environmental Fund — that will focus exclusively on the rise of carbon prices.

Photo: Jens Hartmann Schmidt

Anytime Ulf Ek needs to think, he goes for a walk in London's Richmond Park with Dollar, a ­Maltese-Yorkie mix. The 2,500-acre expanse of fields, forest, and deer herds about 12 miles southwest of the financial district has long been a bucolic respite from urban life.

In the 17th century, King Charles I moved his court to a nearby palace to avoid the plague. For Ek it's a break from the frenzy of the energy markets; he knows just how fraught that world can be, having lived through a price meltdown that cost him a fortune and made him nauseous.

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