Yesterday, Bill Gates announced The Breakthrough Energy Coalition, which is a $2 billion fund he is establishing with other millionaires and the University of California.
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The Breakthrough Energy Coalition includes Microsoft co-founder Gates, Facebook co-founder and chief executive Zuckerberg, and Virgin Group head Branson. This is what we will push for that at the UN Global Climate Change Conference in Paris (COP21). “The urgency of climate change and the energy needs in the poorest parts of the world require an aggressive global program for zero-emission energy innovation”, a post in their website stated.
“The Alwaleed Philanthropies are dedicated to building sustainable communities around the world and it is imperative that a radical change is made in the way we generate and use energy in order to move towards a more sustainable world”.
“There are two sides of the equation; both are very important”, said Bruce Herbert, one of a number of activists in Seattle who support the Gates Divest movement.
“Our task here in Paris is to turn these achievements into an enduring framework for human progress”, Obama said in his address given in Paris. “We’re unbiased but it has to be clean and possible to scale up cheaply”. These additional resources will dramatically expand the new technologies that will define a future global power mix that is clean, affordable, and reliable.
The diverse coalition goes beyond the world’s major powers, including nations like Denmark-long celebrated as a leader in wind power innovation-as well as Saudi Arabia and the United Arab Emirates.
Observers point out that new and revolutionary technologies are often too risky to secure private sector investment at the scale needed for rapid commercialisation, and suggest that initiatives like those announced at the Paris climate talks will bridge critical chasms in the technology development process. Despite their own comfortable lives, “these are investors who care about clean energy and cheap energy”, Gates said.
Government and business leaders are banking on clean energy technology to fight climate change, kicking off this week’s high-stakes climate change negotiations by pledging billions of dollars to research and develop a technical fix to the planet’s climate woes. These investors from 10 countries and representing leadership from many key economic sectors are prepared to drive innovation from the laboratory to the market through the investment of patient capital at unprecedented levels into early-stage technology development into participating countries.
Current technology is not economical to store solar or wind energy.
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China had showed a strong and significant desire to reduce local pollution in the past five years, he said, from reducing local pollution and carbon emissions to developing new clean energy technologies. Of course, they plan to make a lot of money along the way by supporting the best environmentally friendly ideas coming out of public research institutions across a broad range of categories including electricity, transportation and agriculture. We want to see a legally binding and ambitious agreement to maintain European Union competitiveness and allay fears about carbon leakage; we want a predictable framework put in place so as to encourage investment; we want to ensure a stable climate system which is vital for food security, energy production, water and sanitation, infrastructure, the preservation of biodiversity and ecosystems, and, indeed, global peace and prosperity. But the United States opposes any attempt to change the protections.
