The president-elect Donald Trump has appointed a climate change denier, Scott Pruitt, as head of the Environmental Protection Agency (EPA). Donald promised that he would end many of the energy regulations currently in place, and rumors have it that his team is planning to get rid of government employees who have worked on climate change. In addition he has surrounded himself with lobbyists, former CEOs and billionaires that are directly involved in the oil industry, so it is clear that any climate change realities are going to be ignored by the government at least for the next four years.
The corporate world however, is not backing down. About two dozen of the world’s most successful business leaders, entrepreneurs, and venture capitalists and technology innovators will invest up to $1 billion in a fund led by Microsoft Corp. (NASDAQ: MSFT) co-founder Bill Gates. The fund, called Breakthrough Energy Ventures, aims to aims to reduce greenhouse gas emissions to almost zero by investing in emerging clean energy technology.
In their 2016 annual letter to the public, published this past February, Bill and Melinda Gates said they will put more emphasis on technologies that can help us deal with climate change issues, because “we need an energy miracle.”
“Every day we are releasing more and more CO2 into our atmosphere and making our climate change problem even worse… We need a massive amount of research into thousands of new ideas, even ones that might sound a little crazy, if we want to get to zero emissions by the end of this century.” They explained.
Some of the business leaders involved in The Breakthrough Energy Ventures Fund are Alibaba Group Holding Limited (NYSE: BABA) founder Jack Ma, Amazon.com, Inc. (NASDAQ: AMZN) founder and CEO Jeff Bezos, LinkedIn co-founder Reid Hoffman.
The fund chairman Bill Gates said in a statement, “I am honored to work along with these investors to build on the powerful foundation of public investment in basic research… Our goal is to build companies that will help deliver the next generation of reliable, affordable, and emissions-free energy to the world.”