Monday, May 21, 2007

Richard Branson pledges billions to fight global warming!

Sir Richard Branson, the British magnate and adventurer, said today that all of his profits from his five airlines and train company, projected to be $3 billion through the next 10 years, would be invested in developing energy sources that do not contribute to global warming.

Several people working in climate research said the pledge appeared to be by far the largest individual commitment of research money, donated or invested, aimed at avoiding dangerous climate change.

Many experts say that private and government research on non-polluting energy options has lagged, even in the face of growing evidence of risks from rising concentrations of greenhouse gases, because venture capital is mostly aimed at a quick payoff and governments focus mainly on imminent risks.

Should the money flow as pledged, the research effort would far exceed similar efforts by governments.
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