How does Al Gore profit from global warming?

Answer 1

The income former Vice President Gore receives from the "An Inconvenient Truth" documentary, and from sales of his book on global warming, is donated to environmental causes, so he personally does not financially benefit from this activity, beyond fame and name recognition (which he already had as Vice President of the US). It must be noted that most of Mr. Gore's wealth derives from the sale of Current TV and investment income, and NOT from speaking engagements or book sales.

He is paid well for traveling and spreading his message of environmental conservation and protection. Although, as a former VPOTUS, he would likely have made similar money from endorsements and speaking engagements regardless of topic. Most, if not all, former heads of the US Government Executive Branch are in great demand for these appearances. Currently his speech fee is $175,000 for a one hour engagement.

Obtaining wealth through spreading the word of something you believe in is not illegal, nor immoral. Many other successful politicians and government officials have benefited similarly. And, if Al Gore did not believe in the devastation that global warming could cause and if he did not feel the importance and personal obligation to use his celebrity to bring his concerns to the public attention, he would not need to take on this project for income. He was already quite wealthy and it is doubtful he would have been willing to do this controversial work without such a personal interest and passion.

Some people point to his businesses that he has developed since leaving political office as evidence that he is using the fears of the public about global warming to personally profit. Al Gore owns several companies involved with the carbon trading market that receive money from CO2 offsets. Some publications have included that he, "could become the world's first carbonbillionaire after investing heavily in green energy companies."

Nations that are involved in the UN Kyoto climate treaty can use credits from carbon trading markets to fulfill the 1997 Kyoto Protocol that requires mandatory cuts in greenhouse gases. These markets and their credits have been widely used as a method of encouraging carbon reduction via the carbon trading markets of the European Union, Japan and other nations that signed the Protocol. In such a cap-and-trade system, buyers can purchase their offsets from a broker or through electronic trading platforms. In Europe, carbon trading has been a reality since 2005 and carbon offsets have been traded electronically on the European Climate Exchange (ECX). This is similar to Mr. Gore's carbon trading market company.

Those who are against cap and trade systems, including many environmentalists, believe that this system has been being manipulated by manufacturers in China and other nations, "The evidence is overwhelming that manufacturers are creating excess HFC-23 (Fluoroform/Freon 23) simply to destroy it and earn carbon credits." Investigations and studies are ongoing to eliminate loop holes and other problems with this system.

Mr. Gore has also financed some energy-saving technology through his venture capital firm. Mr. Gore says that he is simply putting his money where his mouth is. He is quoted in the NY Times saying that his investment activities were consistent with his public advocacy of carbon reduction and green energy over several decades, including his time in public service, "As a private citizen, I have continued to advocate the same policies. Even though the vast majority of my business career has been in areas that do not involve renewable energy or global warming pollution reductions, I absolutely believe in investing in ways that are consistent with my values and beliefs. I encourage others to invest in the same way."