Tuesday, 30th December 2008. 9:00am
By: George Conger.
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.
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 Goldma