Super rich set up $1 billion climate fund for clean energy innovation
Microsoft co-founder Bill Gates and nineteen fellow investors have set up the Breakthrough Energy Venture (BEV) which is focussed on fighting climate change by investing in forms of clean energy. Jack Ma (Alibaba), Jeff Bezos (Amazon), Hasso Plattner (SAP), Richard Branson (Virgin) and former energy hedge fund manager John Arnold are just several of the multimillionaire investors who are committed to developing commercial clean energy technology. According to Forbes Magazine the combined net worth of the directors is estimated to be close to $ 170 billion.
Over the next 20-years BEV will aim to commercialize clean energy by investing in new technologies that reduce greenhouse- gas emissions and deliver affordable and reliable energy for future generations. This news follows the latest reports of president-elect Donald Trump appointing vocal climate-change deniers who advocate for traditional energy sources such as gas, oil and coal, the exact opposite of the emission-free future that BEV is striving to realize.
Here at Blue21 we are thrilled with this news. Generating renewable energy on land and of course on sea!! is the only way to keep our blue planet habitable.
Online newspaper Quartz has published an article about the BEV initiative.
Image source: Breakthrough Energy