Tech founder Bill Gates has pledged to invest $1.5 billion through his climate fund in projects in the United States if the government approves a program to reduce carbon emissions. This plan is currently under discussion by the US Congress.
Earlier this week, the Senate approved a plan to invest $1.2 trillion in infrastructure improvements. Of that amount, billions of dollars should be funneled into the Department of Energy for projects to combat climate change. It is now up to the House of Representatives to approve it.
According to Gates, the plan, if enacted into legislation, would not only reduce emissions of harmful substances. Also, the law will create many long-term jobs in different communities in the United States.
The ambitious plan includes spending $550 billion on transportation infrastructure, public transportation, broadband internet, and clean water. In addition, the money will be spent on improving electricity charging infrastructure and other measures to combat climate change.
The Gates Climate Fund will spend $1.5 billion over three years with the goal of eliminating greenhouse gas emissions. This includes projects to achieve clean aircraft and investments in carbon dioxide capture technology.
Gates described it as critical that the costs of climate technology be brought down so that they can be raised to an “enormous level”. According to him, the latter can only be done through the correct policy of the government.