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January 18, 2020 04:34 pm

Microsoft Is Also Launching a New $1 Billion 'Climate Innovation Fund'

As part of Microsoft's effort to reduce more atmospheric carbon than it emits, the company has announced a $1 billion "Climate Innovation Fund," reports GeekWire:Microsoft said the new fund will leverage its balance sheet to loan money and take equity stakes in ventures to encourage the development of new environmental innovations. The money will be invested over the next four years. The company cited four criteria for investments, including sustainability initiatives, market impact, technological advances, and climate equity, addressing the tendency of climate change to disproportionately hurt people in developing countries. "We deeply understand this is just a fraction of what is needed to solve this problem," said Amy Hood, the company's chief financial officer, outlining the plan at the event Thursday morning.... Microsoft said it is signing the United Nations' 1.5-degree Business Ambition Pledge, and said it will publicly track its progress in an annual Environmental Sustainability Report. The article notes that Bill Gates "reviewed Microsoft's new initiative but wasn't involved in its creation." Gates has his own $1 billion Breakthrough Energy Ventures fund and has meanwhile also invested in mini nuclear reactors to address climate change. And this spring he'll release a book titled "How to Avoid a Climate Disaster: The Solutions We Have and the Breakthroughs We Need."

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