James Fallows writes about Al Gore’s “sustainable capitalism:”
“It turns out that in capitalism, the people with the real influence are the ones with capital!,” Gore told me during one of our talks this year. The message he hopes Generation’s record will call attention to is one the world’s investors can’t ignore: They can make more money if they change their practices in a way that will, at the same time, also reduce the environmental and social damage modern capitalism can do.
“We are making the case for long-term greed,” David Blood told me in July. Blood is Generation’s senior partner and on-scene leader at its headquarters in London. The formal name for the concept he and Gore are advancing is sustainable capitalism, which sounds both more familiar and less hard-edged than what I understand to be the real underlying idea. The idea is that if some tenets of “long term” and “value based” investing are extended to include the environmental and social ramifications of corporate activity, the result can be better financial performance, rather than returns that are “nearly as good” or “worth it when you think of the social benefits.”