Quartz reports: Bill Gates is leading a more than $1 billion fund focused on fighting climate change by investing in clean energy innovation.
The Microsoft co-founder and his all-star line-up of fellow investors plan to announce tomorrow the Breakthrough Energy Ventures fund, which will begin making investments next year. The BEV fund, which has a 20-year duration, aims to invest in the commercialization of new technologies that reduce greenhouse-gas emissions in areas including electricity generation and storage, transportation, industrial processes, agriculture, and energy-system efficiency.
“Anything that leads to cheap, clean, reliable energy we’re open-minded to,” says Gates, who is serving as chairman of BEV and anticipates being actively involved.
The directors of BEV include Alibaba founder Jack Ma, Reliance Industries chairman Mukesh Ambani, venture capitalists John Doerr and Vinod Khosla, former energy hedge fund manager John Arnold, and SAP cofounder Hasso Plattner. The combined net worth of the directors is nearly $170 billion, based on estimates of their individual wealth by Bloomberg and Forbes. [Continue reading…]
The Washington Post reports: President-elect Donald Trump said Sunday that “nobody really knows” whether climate change is real and that he is “studying” whether the United States should withdraw from the global warming agreement struck in Paris a year ago.
In an interview with “Fox News Sunday” host Chris Wallace, Trump said he’s “very open-minded” on whether climate change is underway but has serious concerns about how President Obama’s efforts to cut carbon emissions have undercut America’s global competitiveness.
“I’m still open-minded. Nobody really knows,” Trump said. “Look, I’m somebody that gets it, and nobody really knows. It’s not something that’s so hard and fast. I do know this: Other countries are eating our lunch.”[Continue reading…]