Seems the former veep, along with some well-heeled partners like erstwhile Goldman Sachs honcho David Blood, is concocting a private partnership based in London to set up a fund that invests in solid stocks which also "stand out against more subjective measures, such as the ability to respond to regulations and consumer preferences that protect the environment and workers," according to the Newark Star-Ledger.

So, if you're an institution or individual with at least $3M, and you don't mind not touching your green for at least three years, the Gore has just the "responsible" fund for you.

Gore and his partners will try to invest in 30 to 50 stocks they think will outdo the rest of the Dow over a three- to five-year time frame, while at the same time choosing equity in eco- and worker-friendly companies.

Colin le Duc, head of research for the group, insists that the new venture will not make moral judgments regarding companies. "We're not ethical investors," he told the Ledger. "We're simply saying that companies that align themselves with environmental and societal needs are better companies."

And what's so different about this fund? Will it perform any better than similar funds? After all, according to the Ledger, Morningstar tracks 96 socially responsible mutual funds with over $36 billion in assets.

The money's only partly the point, says le Duc.

"Partners agreed to dedicate 5 percent of their profit to a foundation that will give money to organizations that foster sustainability issues. And the fund's 25 employees will get a chance to volunteer for some of the nongovernmental organizations that influence regulations and consumer opinion," writes the Ledger.

Chances are the fund will do well, says Greg Carlson, mutual fund analyst for Morningstar. "Socially responsible funds have been around long enough that there is enough evidence that, at least among funds that focus on large-cap stocks, they can do just as well as funds that don't use social screens."

As far as the former vice president goes, le Duc said Gore will not necessarily be taking part in stockpicking, but rather will try to stir up debate about issues that concern the partnership, which will hopefully raise the profile and the level of investment dollars for the fund.

"We're not just looking at it from a global theoretical level, but a hands-on level," le Duc said. "Investing the way we are will hopefully have a good impact on the world."

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