Sun, Nov 29, 2015 - Page 13 News List

Microsoft’s Gates to start clean technology initiative

Reuters, NEW YORK and PARIS

Microsoft Corp cofounder Bill Gates is to launch a multibillion-dollar clean energy research and development initiative with heads of state tomorrow, the opening day of the UN climate change summit in Paris, the French government said on Friday.

Gates and a group of developing and developed countries are to launch the Clean Tech Initiative, in which countries are to commit to doubling their clean energy technology research and development budgets by 2020 and private investors are to boost their own investments in the sector.

Access to clean energy technology is to play a key role in a global agreement to combat climate change. More than 190 countries are to negotiate a new pact at the summit.

France, the US, India, South Korea, Indonesia, Saudi Arabia, Australia, Canada and Norway have said they will join, a source close to the conference presidency said.

“Gates’ announcement should prompt other countries to follow suit,” the source said.

Gates is to join Indian Prime Minister Narendra Modi, US President Barack Obama and French President Francois Hollande to announce the initiative on the opening day of the two-week summit, according to an agenda released on Friday.

For India, the world’s third-largest greenhouse gas emitter, access to clean energy technology is at the core of its national strategy to combat climate change.

India has argued that developed countries need to help poorer countries gain access to renewable energy or zero-emission technologies by helping reduce costs and removing barriers, such as intellectual property rights.

On the sidelines of the UN General Assembly in September, Gates attended a bilateral meeting focused on climate change between Hollande and Modi.

The French presidency source said India is expected to be one of the founding beneficiaries of the initiative.

“This is one of the main points of the negotiation: how to improve clean technologies and give the poorest countries access to these technologies,” the source said.

This summer Gates pledged US$2 billion of his personal wealth over the next five years to “bend the curve” on climate change.

In a blog post in July, he said more breakthrough technologies are needed to combat climate change and that current technologies reduce emissions at a cost that his “beyond astronomical.”

He said accelerating government funding for clean energy research and development is crucial to attracting private investment.

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