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September 5, 2008 11:33:53 PM CDT

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Gore to Investors: Ditch Guzzlers

Posted Feb 15, 08 7:36 AM CST in Science & Health,  Business 

(Newser) – Nobel prize-winner Al Gore yesterday urged financial leaders at a United Nations conference in Manhattan to unload their investments in businesses reliant on carbon-intensive energy. Gore likened such investments to the subprime mortgage market, warning that "the assumption you can safely invest" in business models that assume carbon is free is "about to go splat," AP reports.

Gore told the high-profile investors—who collectively control more than $20 trillion—to treat carbon emissions as a scarce commodity. The UN played host to nearly 500 prominent financial leaders seeking how to make money under mounting demands for cleaner energy. "As soon as people believe carbon has a price, it's going to have a price," said one venture capitalist.

Source Associated Press

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FILE ** Former Vice President Al Gore smiles after speaking at a news conference in Palo Alto, Calif. in this Oct. 12, 2007 file photo. (AP Photo/Jeff Chiu, file)   (Associated Press)
Former U.S. Vice-President Al Gore speaks during a working session at the World Economic Forum in Davos, Switzerland, Thursday Jan. 24, 2008. (AP Photo/Michel Euler)   (Associated Press)
Former U.S. Vice President Al Gore speaks at the Goteborg Aquarium, Goteborg, Sweden Jan. 22, 2008. Gore visited Sweden's second largest city to accept the 1 million kronor (US$150,000/106,000 euro)...   (Associated Press)
Former US-Vice President, Nobel Peace laureate Al Gore, speaks during a plenary session on the second day of the Annual Meeting of the World Economic Forum, WEF, in Davos, Switzerland, Thursday, Jan...   (Associated Press)
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United Nations  • New York  • Wall Street  • subprime crisis  • carbon emissions  • Al Gore  • Nobel Prize


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