Former US Vice President and Global Warming advocate, Al Gore, has become the world’s first ‘carbon billionaire’ after landing a major carbon deal with Chinese coal mining company Haerwusu, one of the top ten coal mining companies in the world.
Al Gore and his partner David Blood, both principals at Generation Investment Management (GIM) have landed the most lucrative carbon deal to date, reaching an estimated $12 billion dollars in carbon shares, estimate experts, although official numbers have not yet been disclosed.
Haerwusu that has often been criticized by Amnesty International and other human rights groups for the poor working conditions of their employees is believed to have sealed the carbon deal to “improve its international image” in an attempt to facilitate commerce with Europe and America, believe specialists.
The former vice-president announced the news to share holders earlier this week during a press conference at GIM headquarters, in London, England.
“I am proud to say that this is just the beginning” he told share holders, visibly enchanted by the recent deal.
“I told the world 20 years ago that the ice caps would be melted by now. Although we are lucky this has not happened yet, we have been at the forefront of the Global Warming movement all along and today we are reaping what we have sown” he admitted with great pride.
“When a system of carbon taxes and carbon trade is setup all over the world in the near future, GIM will be at the epicenter of this green revolution, and believe me, this is just the beginning” he acknowledged prophetically.
The $12 billion dollar deal signed for a period of 10 years with the Haerwusu company could encourage other companies to join in the global carbon trade, a great thing for GIM share holders who’s profits are estimated by experts to sky rocket in the next years.