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The Tech Billionaires Taking On Climate Change

The Tech Billionaires Taking On Climate Change

In recent years we’ve seen several tech billionaires back environmentally friendly innovations in a bid to tackle climate change, but will these famous innovators really be the ones to bring about change?

Bill Gates, Elon Musk, Jeff Bezos, and other leading entrepreneurs often make the headlines for their ground-breaking technologies, unexpected ventures, and charitable donations, frequently making investments as large as some countries’ GDPs. More recently, it seems these billionaires are eager to lead the fight against climate change and provide the technology and research necessary to make a difference.

This September, Gates announced that he had secured over $1 billion dollars in funding from seven U.S. firms to combat climate change. The funding from Microsoft, BlackRock, General Motors, American Airlines, Boston Consulting Group, Bank of America, and ArcelorMittal will be managed by his organization Breakthrough Energy, which he established in 2016.

Gates hopes to drive a “new industrial revolution” through the organization’s Breakthrough Energy Catalyst project, to help the world avoid a climate disaster through investment in carbon capture, green hydrogen, long-duration energy storage, and sustainable aviation fuel. “Half the technology needed to get to zero emissions either doesn’t exist yet or is too expensive for much of the world to afford,” Gates stated, suggesting “Catalyst is designed to change that and provide an effective way to invest in our clean technology future.”

This has been the focus of 2021, with several other tech billionaires getting involved in the battle. Last year, Amazon founder Jeff Bezos pledged $10 billion to launch his Bezos Earth Fund, which will provide grants to scientists battling climate change.

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