Al Gore on Screening Portfolios of ‘Subprime Carbon Assets’
“You need to really scrub your investment portfolios, because I guarantee you — as my longtime good redneck friends in Tennessee say, I guarandamntee you — that if you really take a fine-tooth comb and go through your portfolios, many of you are going to find them chock-full of subprime carbon assets….
Similarly, the assumption that you can safely invest in assets that come from business models that assume carbon is free is an assumption that is about to go splat. You have lots of assets, many of you do, in your portfolios right now that truly do deserve that epithet ’subprime.’”
Al Gore to Institutional Investors Summit on Climate Risk, United Nations, New York, Feb. 14, 2008. “Gore Warns on ‘Subprime Carbon’ Industry” (Associated Press), Feb. 14, 2008.
