Bill Gates to invest $2 billion in start-ups to avert climate change
Microsoft founder, Bill Gates, wants to invest $2 billion in projects and start-ups in the next five years to avert climate change, reports said on Monday.
Innovations were needed to avert a climate disaster, Mr. Gates said in a statement published on Monday in the German business daily, Handelsblatt.
He said this was not impossible, but would be very difficult.
Mr. Gates also called for a five-fold increase in government investment in clean energy research and other climate innovations worldwide within the next decade.
The entrepreneur and philanthropist estimated that research worth at least $110 billion would be needed annually.
In his new book, ‘How to avoid a climate disaster,’ Mr. Gates called for carbon dioxide (CO2) emissions to be eliminated by 2050 in a bid to avoid enormous environmental and economic damage.
Mr. Gates said humans must change the physical economy at a pace never seen before.
In addition, he believed that CO2 taxes, certificate trading, and alternative energies, such as solar and wind power are indispensable.
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