The UK arm of Al Gore’s sustainable investment vehicle, Generation Investment Management, had its first profitable year in 2008, turning an operating profit of £9m (€9.9m).

This figure was revealed in its annual report, lodged with Companies House last week, which also showed its assets under management had increased to £2.3bn at the end of December from £883m a year earlier. In 2007, the firm lost £3m, despite stemming losses half way through the year. It launched in 2004.