File Photo: Bill Gates, Co-Chair of the Bill & Melinda Gates Foundation, will leave the Elysee Palace in Paris, France, on April 16, 2018.Reuters / Charles Platyau / File Photos
September 20, 2021
(Reuters) – Several US companies, including American Airlines Group, General Motors and Microsoft, are joining the breakthrough energy program of Billionaire and Microsoft co-founder Bill Gates on Monday to move to clean energy. We are strengthening our efforts.
This initiative aims to support technological development to reach the goal of zero net carbon emissions by 2050.
The catalyst program aims to raise funds from governments, philanthropists and businesses and make capital investments to reduce the cost of clean technology.
Bank of America Corporation, steelmaker ArcelorMittal SA, Boston Consulting Group, and asset manager BlackRock Inc.’s philanthropic division also participated in the program, according to Breakthrough Energy.
American Airlines said in a statement that it had invested $ 100 million. The program will initially focus on four key areas: direct air recovery, green hydrogen, long-term energy storage and sustainable aviation fuels.
Support from US companies is backed by President Joe Biden’s plans to accelerate carbon cuts. Earlier this month, the White House said it was aiming to reduce aviation emissions by 20% by 2030.
(Report by Aishwarya Nair in Bangalore; edited by Rashmi Aich)