Al Gore interview: “Markets are the key to climate change”

Al Gore, the former vice-president of the US, is the most high-profile figure in the fight to force action to combat global warming. He explains why a new approach to investment is needed, adopts an unusual position in the carbon tax versus cap-and-trade debate, and says banks are generally ahead of the game – but still have a lot more to do.

Q: What role can markets play in preventing climate change?

"There’s a rush to find good ways to incorporate indicators of sustainable value, which means the end of the short-termist bubble is near. And good riddance, because a lot of damage was done to the environment, and continues to be done, because of it"

Q: Do you believe sustainability values will become engrained in the daily fabric of business and finance?

Q: When you speak to business and finance leaders, do they appreciate the need for action on climate change?

Q: Aside from shareholders, do other stakeholders – notably employees – have a role to play?

Q: Does it encourage you when you see major companies like TXU change strategy under pressure from both financial markets and environmental lobbyists?

Q: Where does your preference lie on carbon abatement – cap and trade or taxation?

Q: In your talks with politicians, are you encouraged that a broader, post-Kyoto carbon-trading market will develop?

Q: Why did you get involved with Generation Investment Management?

Q: Why did you feel the need to set up something from scratch?

Q: Does the approach work?

Q: Why haven’t more people adopted it?

Q: Some people will see Generation, particularly given your role, as a high-profile test case for sustainable investment. Does this put added pressure on the firm to succeed?

Q: Do you and Generation have a responsibity to more broadly promote the approach? And if so how do you maintain a competitive advantage?

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