Financier and philanthropist George Soros has pledged to invest more than $1 billion (£625 million) in clean energy technology to tackle climate change. Speaking in Copenhagen last weekend, Soros also announced the foundation of the Climate Policy Initiative, which he will fund with $10 million annually for the next decade and which will be formally launched in Berlin next month. ‘There is no magic bullet for climate change, but there is a lethal bullet: coal.’
Soros, who already holds limited investments in clean coal technology ventures, explained he would apply ‘stringent conditions’ to the disbursement of the $1 billion. ‘I will look for profitable opportunities, but I will also insist that the investments make a real contribution to solving the problem of climate change.’
Subscribe now from only £45 a year!
This article is only available for our subscribers
Existing users can login here