Former U.S. Vice President Al Gore and an ex-CEO at Goldman Sachs Asset Management have launched an investment firm to seek out companies taking a responsible stance on big global issues like climate change.
London-based Generation Investment Management has been set up to tap growing demand for an investment style that blends traditional equity research with a focus on other factors such as social and environmental responsibility and corporate governance. ... The founders ... have pledged to contribute 5 percent of its profits to a charitable foundation focused on exploring issues of sustainable economic growth. (Source)
A certain segment of my readership likely will roll their eyes at this news. Those readers might want to consider an alternative investment; namely, The Vice Fund, whose prospectus proudly states:
The Advisor selects securities of companies using a two-part test:
(1) First, the Advisor looks for companies that derive a significant portion of their revenues from products often considered socially irresponsible, and
(2) Then the Advisor selects companies from this group based on their financial soundness and potential for growth.
For the first part of the test, the Advisor selects companies that have significant involvement in, or derive a substantial portion of their revenues from, industries such as tobacco, gambling, defense/weapons and liquor.
