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kottke.org posts about climate change

Bill Gates starts new $1 billion clean energy fund

posted by Jason Kottke   Dec 13, 2016

Bill Gates and a number of other investors are starting a billion venture fund focused on “cheap, clean, reliable energy”.

Bill Gates is leading a more than $1 billion fund focused on fighting climate change by investing in clean energy innovation.

The Microsoft co-founder and his all-star line-up of fellow investors plan to announce tomorrow the Breakthrough Energy Ventures fund, which will begin making investments next year. The BEV fund, which has a 20-year duration, aims to invest in the commercialization of new technologies that reduce greenhouse-gas emissions in areas including electricity generation and storage, transportation, industrial processes, agriculture, and energy-system efficiency.

The company’s tagline is “Investing in a Carbonless Future” and their investment criteria are:

  1. CLIMATE IMPACT. We will invest in technologies that have the potential to reduce greenhouse gas emissions by at least half a gigaton.
  2. OTHER INVESTMENTS. We will invest in companies with real potential to attract capital from sources outside of BEV and the broader Breakthrough Energy Coalition.
  3. SCIENTIFIC POSSIBILITY. We will invest in technologies with an existing scientific proof of concept that can be meaningfully advanced.
  4. FILLING THE GAPS. We will invest in companies that need the unique attributes of BEV capital, including patience, judgment by scientific milestones, flexible investment capabilities, and a significant global network.

Jeff Bezos, Mike Bloomberg, Richard Branson, Reid Hoffman, and Jack Ma are also participating in the fund.

In related-yet-unrelated news, a recent report says investment funds controlling more than $5 trillion in assets have dropped some or even all of their fossil fuel stocks.

The report, released Monday, said the new total was twice the amount measured 15 months ago — a remarkable rise for a movement that began on American college campuses in 2011. Since then, divestment has expanded to the business world and institutional world, and includes large pension funds, insurers, financial institutions and religious organizations. It has also spread around the world, with 688 institutions and nearly 60,000 individuals in 76 countries divesting themselves of shares in at least some kinds of oil, gas and coal companies, according to the report.

“It’s a stunning number,” said Ellen Dorsey, the executive director of the Wallace Global Fund, which has promoted fossil fuel divestment and clean energy investment as part of its philanthropy.

Like it or not, economics has to be a significant driver for combatting climate change. Driving public opinion against fossil fuel companies, falling prices for solar and battery energy, and clean energy investment funds: it all helps support the decisions made by the world’s forward-thinking leaders. And maybe, just maybe, if you can get the world’s leaders, the public, and the economy all pointed in the right direction, we’ve got a chance.

We Work Remotely

Wild ideas to slow or reverse climate change

posted by Tim Carmody   Jun 14, 2016

Fake trees to pull carbon dioxide out of the air, sun shields to deflect heat and radiation without damaging the atmosphere, giant ice cubes mined from comets to cool down the oceans. Okay, that last one is from a Futurama episode. But some researchers really do think we can try to slow or reverse climate change with technology built for that purpose — and that we’ve already changed the Earth’s environment so much that we may have no choice. I guess it’s worth a try.