Critics Lash Gore's Green 'Profiteering'

Investment profits go back into his nonprofit, counters ex-VP
By Rob Quinn,  Newser Staff
Posted Nov 3, 2009 5:54 AM CST
Al Gore addresses the audience, on the second day of the 'Leaders in Dubai' conference in Dubai, United Arab Emirates, last week.   (AP Photo)
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(Newser) – Al Gore is going to become the world's first "carbon billionaire" thanks to investments in firms that will profit from policies he advocates, his critics say. The ex-VP is a partner in a venture capital firm that stands to make huge profits from investments in green technology, causing accusations of profiteering, especially from global warming skeptics, the New York Times reports.

Gore—who says he sinks "every penny" earned from his investments into his nonprofit Alliance for Climate Protection—rejects the accusations and says that he is just putting his money where his mouth is. "Even though the vast majority of my business career has been in areas that do not involve renewable energy or global warming pollution reductions, I absolutely believe in investing in ways that are consistent with my values and beliefs," he said in a statement this week. "I encourage others to invest in the same way.”