Breakthrough renewable energy fund launched to increase clean energy

1st Dec 2015 | 0 Comments

Breakthrough renewable energy fund launched to increase clean energy

Bill Gates, Mark Zuckerberg, Richard Branson and a slew of high-profile entrepreneurs are throwing their considerable wealth and technical know-how behind a new search for clean, green energy.

They launched their Breakthrough Energy Coalition, of 28 investors from more than 10 countries, during Paris COP21 in December 2015.

Their plans suggest they intend to disrupt the energy sector just as each has done in their chosen business.

Bill Gates will invest $2bn (£1.3bn) in renewable technologies initiatives, but rejected calls to divest from the fossil fuel companies that are burning carbon at a rate that ignores international agreements to limit global warming

In a blogpost in July, Gates said more breakthrough technologies are needed to combat climate change and that current technologies can only reduce greenhouse gas emissions at a “beyond astronomical” cost.

He said accelerating government funding for clean energy research and development is crucial to attracting private investment to the field.

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