Bill Gates Pledges $1.5 Billion for Infrastructure Bill's New Climate Projects

[mahatmakanejeeves]

Source: The Wall Street Journal.

WSJ NEWS EXCLUSIVE POLITICS

Bill Gates Pledges $1.5 Billion for Infrastructure Bill’s New Climate Projects

A Gates-backed venture would apply for matching funds from an Energy Department program that embraces industrial policy

By Timothy Puko
https://twitter.com/TimPuko
[e-mail]
Updated Aug. 12, 2021 9:24 am ET

Microsoft Corp. co-founder Bill Gates said his climate investment fund will commit $1.5 billion for joint projects with the U.S. government if Congress enacts a program aimed at developing technologies that lower carbon emissions.

A roughly $1 trillion infrastructure bill passed by the Senate this week would give the Energy Department $25 billion for demonstration projects funded through public-private partnerships, part of more than $100 billion to address climate change. The House hasn’t yet approved the legislation.

Mr. Gates, in an interview with The Wall Street Journal, said a fund run by his Breakthrough Energy could spend the money over three years on projects aimed at slowing the greenhouse-gas emissions that cause climate change. The Breakthrough projects, which would have to compete with other applicants for the funds, could include emissions-free fuel for planes and technology to suck carbon dioxide out of the air.

“Critical for all these climate technologies is to get the costs down and to be able to scale them up to a pretty gigantic level,” Mr. Gates said. “You’ll never get that scale up unless the government’s coming in with the right policies, and the right policy is exactly what’s in that infrastructure bill.”

Breakthrough will likely shift funding for the biggest projects to Europe and Asia instead if the package doesn’t become law, he added.

TO READ THE FULL STORY
SUBSCRIBE
SIGN IN

Read more: https://www.wsj.com/articles/bill-gates-pledges-1-5-billion-for-infrastructure-bills-new-climate-projects-11628769601

---

Bill Gates said his climate investment fund will commit $1.5 billion for joint projects with the U.S. government if Congress enacts a program aimed at developing technologies that lower carbon emissions

Link to tweet

[kysrsoze]

1. I've had mixed feelings about Gates over the years, but this is great. T

[Deep State Witch]

2. Well, At Least He's Not

Using his billions to go into space.

[PatSeg]

8. That was my first reaction

At least he is aware that the need is urgent and all those who can help should. Maybe he can guilt some other billionaires into doing something constructive for the planet.

[Sapient Donkey]

12. Not shitting on Gates, but I wonder if this has much to do with his thorium nuclear reactor stuff.

[PatSeg]

14. I don't know

He has done an awful lot of truly constructive things for humanity with his money in recent years. Hopefully, that is what this is about.

[Sapient Donkey]

16. I think he is well intended even with nuclear stuff

I don’t know enough about that topic to say if the hype and claims are valid or not, though.

[Hortensis]

17. Well, the thorium reactor is meant to provide "clean" nuclear energy

without water and from places like deserts. It will need to become economically feasible if it's to proliferate as needed to replace dirty energy sources.

[Sapient Donkey]

18. The hype from it sounds great. I think there is someone here on DU who knows

a lot about that stuff. I can't recall the username, though. I think it was that person who wrote up a pretty dispassionate fair analysis of the pros and cons, and the reality vs. hopeful expectations of the technology (it might have been somewhere else, though)

I am just wondering if in Gate's mind if he sees this as a good opportunity to push for that.

[Hortensis]

19. Well, the government's already investing in "portable" nuclear

generators, including Gates' development, so I'd imagine of course he and others would be, along with many groups that are developing other technologies to fight climate change.

Fighting, slowing, reversing climate change is baked into virtually all the Democratic Party's infrastructure planning these days, so those projects the government invests in are going to get not just funding but other, critically valuable boosts.

[yaesu]

3. Announced after Microsoft lost out to the rocket man for the lucrative fed cloud biz

Good on Bill gates.

[llmart]

4. This is very good news.

In his younger days he was criticized for his lack of philanthropic endeavors, but I have to admit he has redeemed himself in that department. People used to say that he became more philanthropic once he married Melinda. I don't know if it was that or age, but kudos to him.

[PSPS]

5. I'd rather he pay taxes instead of having humanity's fate depend on the whims of oligarchs.

[NurseJackie]

6. Lulz.

[Sapient Donkey]

13. I guess the question would be how much should be taxed and how should it work?

Anything over a certain amount is taxed at 100%? Yearly wealth tax that taxes all wealth? If so, what amount? Should it be at a amount that prevents anyone from being a billionaire? As in, at some point they get taxed at or near 100%?

[NurseJackie]

7. Excellent news. He's a good guy.

This is obviously something that's important to him and I certainly welcome his efforts and contributions. I applaud him for it.

[marble falls]

9. And he's buying a stairway to heavan.

[Bayard]

10. Setting a fine example for other billionaires

Good job, Bill!

[mahatmakanejeeves]

11. That's an impressive way to celebrate the 40th anniversary of the introduction of the PC.

Fri Aug 13, 2021: On August 12, 1981, IBM released its first personal computer. Very expensive, look at the price.

[brooklynite]

15. The vaccine chip can be used to pay tolls?