Wednesday 18 September 2019

Gore 'profiting' from climate change bid

Nick Allen in Los Angeles

Al Gore has been accused of profiting from the climate change agenda amid claims that he is on course to become the first "carbon billionaire".

The former US vice-president is in line to make a large profit from a firm producing smart meters that monitor household electricity use.

He is a partner in a Silicon Valley venture capital firm that invested €50m in Silver Spring Networks, a California company that developed the technology to make the electricity grid more efficient.

Last week the US Energy Department announced €2.2bn in grants for "green" projects. A proportion of that, thought to be more than €340m, will go to utility operators with which Silver Spring has contracts.

The venture capitalists who invested, including Mr Gore, are poised to receive a handsome return.

Since leaving office, Mr Gore has campaigned relentlessly on green issues. His 2006 film 'An Inconvenient Truth', which followed his attempts to educate people about the dangers of global warming, won an Oscar for best documentary.

Mr Gore said yesterday that it was "certainly not true" that he was going to become a "carbon billionaire".

"I absolutely believe in investing in accordance with my beliefs and my values," he added. (© Daily Telegraph, London)

Irish Independent

Today's news headlines, directly to your inbox every morning.

Editors Choice

Also in World News