Al Gore launches an investment firm focused on sustainability
After the whole endorsing-Howard-Dean thing didn’t work out, Al Gore is hoping his new venture is more successful: It’s an investment firm called Generation Investment Management that will focus on socially and environmentally conscious companies. The firm’s approach “is designed to serve people who want to integrate sustainable returns with traditional equity analysis,” said the former VP with his typical fiery charisma. David Blood, formerly CEO of Goldman Sachs Asset Management, will serve as managing partner of the firm, while Gore will act as chair, shaping its overall strategy but not choosing investments. “I’m not a stock picker,” he emphasized (again, see: Howard Dean). He said the firm will meet a rising demand for long-term analysis that takes into account the “carbon intensity” of companies’ profits.