Stock Groups

American Airlines, Microsoft join Gates-backed program to boost clean energy By Reuters


© Reuters. FILE PHOTO: Bill Gates, Co-Chair of Bill & Melinda Gates Foundation leaves the Elysee Palace in Paris, France, April 16, 2018. REUTERS/Charles Platiau/File Photo

(Reuters) – Several U.S. companies, including American Airlines (NASDAQ:) Group Inc, General Motors (NYSE:) and Microsoft Corp (NASDAQ:), on Monday build on their commitment to clean energy by joining billionaire and Microsoft co-founder Bill Gates’ Breakthrough Energy program.

It aims to accelerate the advancement of technologies in order to meet the goal of zero carbon emissions by 2050.

The catalyst program is designed to attract money from companies, governments and philanthropists to invest in clean technology.

Breakthrough Energy also announced that Bank of America Corp, steelmaker ArcelorMittal SA (NYSE.) SA and Boston Consulting Group have joined the program.

American Airlines stated in a statement that it had invested $100 million. In the beginning, four areas will be addressed: green hydrogen storage, direct air capture and long-duration energy storage. Then, it will focus on sustainable aviation fuel.

This support comes in the context of President Joe Biden’s plan to increase carbon reduction. The White House stated earlier this month that it aimed to reduce aviation emissions by 20% by 2030.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. Instead, they are determined by marketmakers. As such, the prices might not reflect market conditions and could be incorrect. Fusion Media does not accept any liability for trade losses caused by the data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.