The Church of England has invested 150 million pounds with Generation Investment Management, the green fund started by Nobel Laureate Al Gore.
Can I get a "Hallelujah" ladies and gentlemen?
As reported by Religious Intelligence News Tuesday:
The Church of England's Church Commissioners have gone green, investing £150 million with former US Vice-President Al Gore's environmentally minded investment firm, Generation Investment Management.On Nov 18 the First Church Estates Commissioner, Andreas Whittam Smith reported that in late September the Commissioners had placed the funds with Gore's boutique management firm which follows an "environmentally sustainable global equities mandate." Funding for the investment came from "cash and Treasury bills", he said, and not from the sale of UK equities as initially planned.
The Church's commissioners should have gone to a higher authority than Gore to discuss the timing of moving so much money out of cash and T-bills given what happened to the market in late September:
We can only hope for the Church's sake that Gore knows more about investing than he does climatology.
