Al Gore Puts On His Capitalist Cap
Posted on Jun 1, 2009
The former vice president has thrown plenty of his own money at the climate crisis, but now the Nobel Prize-winning environmental activist is hoping to profit from his policy ideas. “An environmental start-up backed by Al Gore’s venture capital firm aims to take advantage of coming U.S. climate change legislation by helping companies like Coca Cola and even cities cut pollution,” reports Reuters.
Hara, a 25-employee company that debuted in 2008, provides online software to help companies reduce their carbon footprint—a $2.5 billion market that will grow 10-fold if the proposed energy bill, which will require companies to get permits for emissions, becomes law, Chief Executive Amit Chatterjee said.
At the heart of the legislation is a “cap-and-trade” system that will gradually reduce the amount of greenhouse gases emitted by industry, by requiring them to have permits to spew their emissions.
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