Al Gore, who served for eight years as Bill Clintons vice president and narrowly lost the disputed presidential election of 2000, is launching a new type of socially responsible mutual fund, Financial Times reports.
Gore is teaming with former Goldman Sachs Asset Management CEO David Blood to create Generation Investment Management, a London-based fund that will invest in the stocks of global funds that blend environmental awareness with social accountability, a fledgling type of socially responsible investing known as "sustainability research." Along with four other partners, the founders have invested "double-digit" millions of dollars in the start-up.
- The former vice president is considered an expert in sustainability research. In fact, Gore once served on Clintons business and sustainable development council.
At Generation, which will have offices in London and Washington and launch in the new year, Gore will serve as chairman. He plans to devote a little more than a day per week, but he told the Times he may extend that commitment. Gore has made speeches across the country about financial services and technology, and he serves on the board of Apple Computers and is a senior advisor for Google.