Global businesses must adopt “sustainable capitalism” to create long-lasting value in the face of global challenges such as climate change, poverty and disease, former U.S. Vice President Al Gore said. Adopting environmental, social and governance standards improves companies’ profitability over the long term and makes them more attractive to investors, Gore and David Blood co-wrote in a piece titled “A Manifesto for Sustainable Capitalism” published in today’s Wall Street Journal. BP Plc and Lehman Brothers were examples of when an absence of sustainability had damaged companies, they said. Corporations that have adopted practices such as reducing waste, increasing energy efficiency and employee motivation programs have shown better returns than peers focused on quarter-to-quarter performance, said Gore and Blood, who are chairman and managing partner of Generation Investment Management.
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