Bill Gates, John Kerry call for ‘urgent’ private sector climate action
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Bill Gates addresses the Global Investment Summit, Science Museum, London on October 19, 2021.
Leon Neal | Getty Images News | Getty Images
Bill Gates stressed that businesses must invest urgently in green technology as climate change continues to intensify.
Speaking via videoconference at The Davos Agenda virtual eventOn Wednesday, Gates indicated that it was necessary to support the investment and invest in the private sector to ensure the availability of new technology.
Environmentally-friendly developments in areas such as green hydrogen, direct air capture and clean aviation fuel already exist, but businesses need to both help build — and become customers of — such products to make them more affordable, he said.
It all comes down to economics. “We have to make the economy far more economical,” Gates said. Breakthrough Energy invests into sustainable technologies.
“Pairing the new technologies and the large companies with the skills to create those things at scale, is what I consider the most urgent agenda.”
This comment comes months after COP26 at Glasgow saw unprecedented private sector climate commitments. There were also corporate sign ups for the First Movers CoalitionThe World Economic Forum launched a new initiative for sustainable investments called.
Kerry also spoke Wednesday and praised the “unprecedented” private sector participation at COP26. He called it a critical part of the solutions.
He stated at The Davos Agenda that no government has enough money to make this happen. Private sector investments and discovery will matter more than any other… they’re what’s going get us out this hole.
At what point are the tipping points reached?
Kerry stressed, however, that more businesses must get involved.
We know that we are capable of doing the things. “We now must accelerate the process,” he stated. “That is the vision that we must bring to the table over the coming months and years.”
The World Economic Forum released its last week’s Global Risks Report 2022Failure to take action on climate change is cited by many as the most serious global threat over the next ten years.
A separate report released last week by the National Oceanic and Atmospheric Administration also found that 2021 was among the top ten most dangerous years. most catastrophic climate years on recordTwenty separate, billion-dollar natural disasters struck just the U.S.
Kerry declared, “The NOAA research should be frightening anyone.” Kerry stated, “We are witnessing tipping points and it is imperative that we move more quickly.”
— Don’t miss Geoff Cutmore’s discussion with ECB President Christine Lagarde, Brazilian Economy Minister Paulo Guedes, IMF MD Kristalina Georgieva and India’s Finance Minister Sri Mulyani Indrawati at 7.30 a.m. ET Friday. The “Global Economic Outlook” will be discussed at Davos Agenda. You can live-stream the discussion here.
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