Microsoft founder Bill Gates is partnering with the European Union to create a roughly $115 million investment fund for green energy startups and new research, according to a Wednesday post on Gates’s blog GatesNotes.
Gates will meet members of the European Commission — in charge of proposing and enforcing EU policies and acting as the EU’s emissary in international discussions and treaties — in Belgium this week to sign the agreement.
Gates is representing a partnership of private investors, Breakthrough Energy Ventures (BEV), that want to cut global carbon emissions by investing in new technology.
“To stop the planet from getting substantially warmer, we need breakthroughs in how we make things, grow food, and move people and goods — not just how we power our homes and cars,” Gates wrote.
BEV and the EU hope to create a public-private partnership for investing. Each partner will provide half of the starting capital for the pilot fund of roughly $115 million.
The investors in BEV will be in charge of distributing the money and working with the recipients.
“We’ll have the resources to make a meaningful difference, and the flexibility to move quickly,” Gates wrote.
The United Nations’s International Panel on Climate Change released a report in October projecting that climate change would be severe and irreversible within a decade unless action is taken.
The report, cited by Gates, estimates that annual investments between $1.6 trillion and $3.8 trillion a year in new technology are necessary to avoid the worst effects of climate change.
BEV’s green energy research fund has a total of $1 billion to invest.
Gates is a wealthy patron of the movement to fight climate change and has taken his money and status beyond the private sector to aid political initiatives such as a proposed carbon tax in Washington.
Gates endorsed Initiative 1631 on Oct. 9 to institute a statewide tax on fossil fuel emissions.
Read more at Daily Caller
Gates just another hoax master looking to make a a bundle from the usial suckers who eat this Global Warming/Climate Change poppycock stuff up like popcorn noting of Mircosofts stupid WE SEE ads they had on TV a few years back
Is Gates really this dumb, or does he see
a substantial profit down the road.
Bill Gates is a little late with his investment fund. Though they are doing so quietly, many European nations are backing away from renewable energy after suffering the extreme cost.
I live in Washington where 1631 is on the ballot. Unfortunately polls show it is leading by a wide margin. I estimate it will cost our family $5,000 a year after three years, and $10,000 after 6 years. For example, after nine years the carbon tax would be $600 to fill our propane tank. That is just our cost of energy. If you got it, a truck brought it. Higher fuels costs for trucks will be passed on the consumer, as will high costs for the power businesses use. There is more. With a win by a large margin, you can bet there will be another costly initiative in the 2020 election.
How much energy is sucked up by computers ?
Sucking up to the European( Soviet)Union another traitor in America and how much electricity dose his energy sapping mansions absorb in one month alone not to mention his office buildings