Billionaires Leverage UN COP21 Summit to Launch Renewable Investments

Renewable investment is great, but I don’t trust this group of benevolent billionaires.  They are working on public private partnerships where the taxpayers fund the risky part and they get to capitalize on the successful projects.

Gates was in Paris at the UN’s COP21 Summit to push his latest bit of entrepreneurial philanthropy: the Breakthrough Energy Coalition, an informal club of 28 private investors from around the world, including several hedge fund billionaires who have agreed to follow his lead and pump seed money into energy research and development.

The investors want to eliminate the “valley of death” between the early promise of a new energy concept and commercializing it into a viable technology, which “neither government funding nor conventional private investment can bridge,” the group said in a statement.

The investors are forming a new organization known as the Breakthrough Energy Coalition to invest in technologies that could help solve problems associated with climate change and other clean tech initiatives.

“More capital at the early stage is going to drive the breakthroughs that will drive costs down,” said Brian Deese, US President Barack Obama’s senior adviser on climate change who announced the private-public sector initiative to reporters in Washington.

Gates described the possibility of generating energy through the long-speculated process of artificial photosynthesis, using the energy of sunshine to produce liquid hydrocarbons that could challenge the supremacy of fossil fuels.

A readiness to put another billion dollars of his own money into what is already a roughly billion-dollar portfolio of energy investments was also enough for Gates to convince 20 governments to commit to doubling their own R&D investments within five years.

“If we are to avoid the levels of warming that are dangerous we need to move at full speed,” ” to meet both the challenges of providing energy access to over 1 billion people, and to reduce carbon emissions over the long term”

The private-sector group’s initial investments will target electricity generation and storage, transportation, industrial use, agriculture and energy efficiency.

The US government currently invests around $5 billion in clean energy R&D and under this program it will double to $10 billion. The Energy Department’s ARPA-E program has conducted early-stage research into technologies such as advanced batteries, fusion and nanotechnology.

I suspect this is all related to the 2030 Agenda of the UN (and it’s predecessor Agenda 21), which has been described as a operational plan to inventory all things on the planet for the purposes of creating a technocratic energy based economy.   It is also likely tied to the Trans Pacific Partnership (TPP) that is expected to pass next year after Obama fast tracked the trade agreement.

Never trust a billionaire with tax payer money.

Here’s a list of the founding members of the Breakthrough Energy Coalition:

Mukesh Ambani
Chairman and Managing Director, Reliance Industries Limited
India

John Arnold
Co-chair, Laura and John Arnold Foundation
United States

Marc Benioff
Founder, Chairman and CEO, Salesforce.com
United States

Jeff Bezos
Founder and CEO, Amazon
United States

HRH Prince Alwaleed bin Talal
Chairman of the Board of Trustees, Alwaleed Philanthropies
Saudi Arabia

Richard Branson
Founder, Virgin Group
United Kingdom

Ray Dalio
Founder, Bridgewater Associates
United States

Aliko Dangote
Founder and Chief Executive, Dangote Group
Nigeria

John Doerr
General Partner, Kleiner Perkins Caufield & Byers
United States

Bill Gates
Co-chair, Bill & Melinda Gates Foundation
United States

Reid Hoffman
Founder, LinkedIn and Partner, Greylock
United States

Chris Hohn
Founder, The Children’s Investment Fund
United Kingdom

Vinod Khosla
Founder, Khosla Ventures
United States

Jack Ma
Executive Chairman, Alibaba Group
China

Patrice Motsepe
Founder and Executive Chairman, African Rainbow Minerals (ARM)
South Africa

Xavier Niel
Founder, Iliad Group
France

Hasso Plattner
Co-founder and Chairman, SAP
Germany

Julian Robertson
Founder and Chairman, Tiger Management
United States

Neil Shen
Founding Managing Partner, Sequoia Capital China
China

Nat Simons and Laura Baxter-Simons
Co-founders, Prelude Ventures
United States

Masayoshi Son
Founder, Chairman and CEO, SoftBank Group Corp.
Japan

George Soros
Chairman, Soros Fund Management LLC
United States

Tom Steyer
Businessman, Philanthropist, and President, NextGen Climate
United States

Ratan Tata
Chairman Emeritus, Tata Sons
India

Meg Whitman
CEO, Hewlett Packard Enterprise
United States

Ms. Zhang Xin and Mr. Pan Shiyi
Co-founder and CEO, SOHO China
Chairman, SOHO China
China

Mark Zuckerberg and Dr. Priscilla Chan
Founder, Chairman and CEO, Facebook
Pediatrician and CEO, The Primary School
United States

University of California
Office of the Chief Investment Officer
United States

Ref: http://mission-innovation.net/statement/

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