Generation Investment Management

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Generation Investment Management (GIM) is a firm founded by Al Gore, former Goldman Sachs executive David Blood, and three other founding partners in August 2004[1].

The company, which has acquired more than $1 billion[2], was set up to establish rules for licensing and carbon-trading in an attempt to create a significant market for the sale of the highly criticized "carbon offsets"[3], it also buys shares in companies that fit its founders' definition of "carbon friendly".[4]

Because Gore helped found the firm, he essentially pays himself when he places stock in GIM.[5] The firm is located in London and Washington, D.C..[6]

Gore and Blood have been criticized for creating a firm which is based on what many believe to be unstable science, man made global warming. Critics also claim that the sale of carbon offsets is just a marketing idea to please the guilt of the rich who can afford to buy offsets. Myron Ebell, director of energy and global warming policy at the Competitive Enterprise Institute, stated, "I question if offsets are real or a way to get a certificate you can frame that says 'I'm a virtuous person, "This really is a class thing. Other than the rich, no one else can buy offsets."[1]

External Links

References

  1. 1.0 1.1 http://www.cnsnews.com/ViewNation.asp?Page=/Nation/archive/200703/NAT20070307a.html
  2. http://manoverboard.com/portfolio/generation.html
  3. http://theanchoressonline.com/2007/05/25/will-gore-debate-kristen-byrnes-on-global-warming
  4. http://www.fastcompany.com/magazine/117/features-gore-an-inconvenient-portfolio.html
  5. http://www.generationim.com/about/team.html
  6. http://www.generationim.com/
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