Billionaire George Soros will invest $1 billion in clean-energy technology that actually make a contribution to solving the problem of climate change. The investments must be profitable, but they must work, Soros announced yesterday in Copenhagen, at a meeting sponsored by Project Syndicate.
Soros, 79, also will establish the Climate Policy Initiative, a San Francisco-based organization to which he will donate $10 million a year for 10 years.
“It will be part advisory service, part policy developer and part watchdog,” said Thomas Heller, who is heading the initiative. Heller is a professor at Stanford University Law School whose expertise is in energy law and regulation and environmental law. via Bloomberg
Soros stresses that the investments MUST help people as well as profits.