More Clinton Initiative Funds For Renewable Energy


Via Dow Jones Newswires - NEW YORK (AP)--"A day after U.K. business mogul Richard Branson pledged $3 billion to battle global warming, former President Bill Clinton on Friday announced the launch of a $1 billion investment fund for renewable energy. Clinton said the new Green Fund would focus on reducing dependence on fossil fuels, creating jobs, lessening pollution, and helping to reduce global warming while getting returns on capital invested. The announcement came on the final day of the three-day Clinton Global Initiative conference " The photo of James D. Wolfensohn, who will be overseeing the $1 billion dollar Green Fund, is credited to the World Council of Churches.
The total of 4 billion in Clinton Initiative commitments is on the same plane as the US Federal Government's collective budgetary allocation for research into mostly coal and nuclear energy alternatives, as was also announced this week (huge pdf file at link). Besides the focus on renewability, what most distinguishes the Clinton commitment from the US Department of Energy's plan is the phrase "while getting returns on capital invested." The Green Fund is seeding not merely money but a philosophy of pragmatism and near-term outcomes.