Gore’s eco-friendly firm lands $16M contract to manage city pension funds

Heres an inconvenient truth: New York is greening the wallet of Al Gore.

Embattled city Comptroller John Liu has delivered a $16.56 million contract to the former vice presidents environmentally friendly investment firm, Generation Investment Management, to help manage hundreds of millions of dollars in city pension funds, The Post has learned.

The Comptrollers Office had previously awarded Gores firm $12.8 million in pension-fund business under Lius predecessor, Bill Thompson.

Since 2009, state Comptroller Tom DiNapoli has approved $6 million in contracts to the firm, co-founded and chaired by Gore. Generation now manages nearly a half-billion dollars of state pension-fund investments, records show.

AP

GETTING GREEN: A financial firm chaired by Al Gore, here in his film, An Inconvenient Truth, has been tapped to manage city pension funds.

JOHN LIU Grants contract.

In total, thats more than $35 million in greenbacks to Gores firm.

Lius office proposes investment-management contracts to the board of trustees of the citys five major pension funds. Generation is an investment manager for two of them: the New York City Employees Retirement System (NYCERS) and the Police Pension Fund.

But the Gore connection has been a closely held secret.

See the article here:

Gore’s eco-friendly firm lands $16M contract to manage city pension funds

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