President Obama, Bill Gates Launch Global Research Effort to Curb Climate Change

“The world urgently needs a new economic revolution driven yet again by adaptations in energy utilization, only this time with a greater consciousness of the environment and resource conservation”, he said. Breakthrough Energy Coalition, a personal group of billionaire buyers, is a praise to Mission Innovation, a public global dedication to fueling determination & development within the clean-energy arena.

The U.S. government now invests around $5 billion in clean energy R&D.

Jason Blumberg, chief executive and managing director at Energy Foundry, a venture capital firm focusing on new energy and clean technologies, explains how much money is needed to find clean, high tech energy.

While speaking in Paris on Monday, Obama is expected to announce a clean energy program known as “Mission Innovation” that aims to double public investments in clean energy research from $10 billion to $20 billion by the year 2020, according to The Washington Post.

UC will be the sole institutional investor in the so-called Breakthrough Energy Coalition, according to the university.

Gates has published a paper that he says makes a more detailed case for investing in energy innovation, which you can download here. Gates states, “people like myself, who can afford to take huge risks with start-up companies, should – ’cause of climate alter – be willing to put some number of billions in to the spin-offs in that will come out of in that government-funded activity”.

Mr Gates is also one of 28 leading investors who have launched the Breakthrough Energy Coalition to allow companies to get innovation out of the lab and into the marketplace.

The two initiatives, which has Gates as the common denominator, will coordinate their efforts as part of their commitment to cut carbon emissions and help avert further global warming.

President Barack Obama, Bill Gates and a host of other world leaders and wealthy philanthropists are launching a global multi-billion dollar research initiative to combat climate change.

The International Energy Agency released a report that tracked the progress of clean energy technologies and the results are bleak. It would do that by having a flexible approach to investments, making available early stage to Series A funding in various sectors such as power generation and storage, industrial use, agriculture and energy system efficiency.

France, the United States, India, South Korea, Indonesia, Saudi Arabia, Australia, Canada and Norway have said they will join, a source close to the conference presidency told Reuters.