Capital Allocators – Inside the Institutional Investment Industry Sustainable Investing 5: David Blood - Pioneering a Generation (Capital Allocators, EP.143)
Jun 22, 2020
David Blood, co-founder of Generation Investment Management and a pioneer in sustainable investing, shares his journey from Goldman Sachs to founding a firm with Al Gore. He discusses the critical role of organizational culture in sustainable finance and how to integrate ESG factors into investment strategies. Blood highlights the importance of long-term thinking in capitalism, addressing climate change, and combating social injustice, emphasizing that sustainability should be a core business priority for future success.
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Unlikely Path to Finance
- David Blood considered a career as a teacher, coach, or forest ranger before entering finance.
- His summer experience at EF Hutton disillusioned him with investment banking due to its poor culture.
Culture as a Predictor of Success
- Assessing investment bank cultures in the mid-80s accurately predicted their long-term success.
- Cultural failures, not financial ones, often cause organizational downfall.
Building Businesses at Goldman Sachs
- At Goldman Sachs, Blood helped establish new businesses, including private capital markets, international expansion, and asset management.
- He considers himself a business builder rather than a specialist in any one area.