The Deal
BY MARY KATHLEEN FLYNN
“If you’ve got a lot of money tied up in sub-prime carbon assets, watch out,” former Vice President Al Gore warned an audience of institutional investors in New York on Thursday.
“People are going to lose a lot of money in the transition from the high-carbon economy to the low-carbon economy, and if you’re a money manager and you’ve got a lot of money invested in the carbon-based economy, then you’re doing a very bad job for your portfolio and you’re taking a huge risk,” said Gore at a conference hosted by the Rockefeller Philanthropy Advisors on how climate change will affect investment strategy.