Sunday, November 29, 2015
New Funding for Clean Energy
The government and a small group of investors are planning a million-dollar research campaign about global warming. The United States, India, China, as well as 16 other countries are planning on announcing this initiative tomorrow. This effort, called the "Mission Innovation," is unlike anything before and will be focused on the development of clean energy. The plan is to increase public investments by double. The Mission Innovation program includes the agreement of the 19 countries involved to increase their annual spending on research and development to $20 billion. The 19 countries involved are the United States, China, India, Australia, Brazil, Canada, Chile, Denmark, France, Germany, Indonesia, Japan, South Korea, Mexico, Norway, Saudi Arabia, Sweden, the United Arab Emirates and the United Kingdom.
Large supporter of the initiative and Microsoft founder, Bill Gates will also be increasing his involvement in the matter. Gates is planning on investing large sums of money in startups that are focused on creating alternate sources of clean energy that people all over the world can afford. Gates is “optimistic that we can invent the tools we need” but wants to ensure that these companies have enough starting capital to make this happen. The investments made my Gates will be combined with investments from many other wealthy investors, including Mark Zuckerberg and Jeffrey Bezos (Amazon founder). Although the exact amount these investors contributed is unknown, it is safe to assume it is a very large sum of money.
The announcement of the initiative came at the climate summit in Paris. Obama made a statement saying he is optimistic. (View his Facebook post regarding the conference here https://www.facebook.com/potus/?fref=nf) The official announcement is expected to come this week at a conference with almost 200 countries in attendance. The goal of this conference is to create some sort of accord on reducing green house gas emissions.
My questions for you are:
Do you think that climate change is something the government should be putting this much time and energy (no pun intended haha) into? Are there more pressing issues we should be worrying about instead?
Do you think the investments of Gates and the others will be enough to make significant progress in making clean energy global?