The Color of Money
December 31, 2008
Al Gore knows a good deal when he sees one. He has parlayed his environmental activism into a multi-million (billion?) dollar enterprise. Now the hapless Church of England is giving him over 150 million dollars. The former Vice President is flush in green.
The Church of England’s Church Commissioners have gone green, investing £150 million with former US Vice-President Al Gore’s environmentally minded investment firm, Generation Investment Management.Kids, sometimes junk science truly pays.
On Nov 18 the First Church Estates Commissioner, Andreas Whittam Smith reported that in late September the Commissioners had placed the funds with Gore’s boutique management firm which follows an “environmentally sustainable global equities mandate.” Funding for the investment came from “cash and Treasury bills”, he said, and not from the sale of UK equities as initially planned.
In Oct 2007 Mr Gore was awarded the Nobel Peace Prize for his work in raising awareness of the potential threats from climate change. Generation Investment Management was founded in 2004 by Mr Gore and David Blood, former head of Goldman Sachs Asset Management, and had almost £5 billion under management before the market collapse.
Read the whole story HERE.
