Bill Gates pledges $ 1.5 billion for climate projects in infrastructure bill – .

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Bill Gates pledges $ 1.5 billion for climate projects in infrastructure bill – .


The $ 1.2 trillion bipartisan infrastructure bill – yet to be passed by the House – spends more than $ 100 billion in tackling climate change, sweeping agendas that tackle extreme weather electric school buses.

Part of that is $ 25 billion in funding to DOE for demonstration projects through public-private partnerships, which will include Breakthrough Energy Catalyst. The Wall Street Journal first reported on the donations.

Breakthrough Energy’s Catalyst Program hopes to accumulate up to $ 15 billion to fund “climate smart technologies” through public and private funding in different industries. Gates has often said that the ultimate goal is to achieve a net zero carbon economy by 2050.

DOE-sponsored projects that Catalyst will help accelerate include sustainable aviation fuel and green hydrogen, which could provide electricity without fossil fuels. Other projects direct the capture of air, which would capture carbon dioxide directly from the atmosphere, and long-term energy storage.

“Avoiding a climate catastrophe will require a new industrial revolution. We need to make the technologies and products that don’t cause emissions as cheap as those that do, by reducing what I call green premiums, so the whole world can afford them and meet our climate goals ” Gates said in a statement, adding that a public-private partnership would accelerate the deployment of these technologies.
Scott Sklar, director of energy at the Institute for Environmental and Energy Management at George Washington University, said that while public-private partnerships for climate are ongoing and ongoing, there has not seen one of this magnitude.

“Gates is playing a bit,” Sklar said. “As many leaders say, we need to accelerate the adoption of technology if we are to achieve some of these climate goals and it’s going to take some risks. “

Jonah Goldman, managing director of Breakthrough Energy, said the partnership allows flexibility on both sides to scale complex and large-scale solutions to carbon-free emissions.

“There is nothing binary about the climate, the solution completely restores the basics of our modern way of life,” Goldman said.

Gates has worked with the public sector in the past. In June, Breakthrough Energy Catalyst and the European Commission announced a partnership to boost investment in critical climate technologies that will enable a net zero economy.

– CNN’s Katie Lobosco and Tami Luhby contributed to this report.

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