George Soros Plans Billion-Dollar Climate Change Investment
Filed under: Big Givers
Billionaire George Soros has made a big move for climate change. Recently in Copenhagen he announced that he will commit more than $1 billion of his estimated $13 billion fortune to clean energy investments and political efforts which help to benefit the environment. The money could help startups with an eco focus get much needed money to go forward at a time when venture capital is at a major low. Analysts say that Soros will likely focus on "mezzanine" investments helping relatively mature startups with some proven success get to the next level. Soros is a savvy investor and this isn't strictly an altruistic move. He says that he is looking for opportunities that will be both profitable and "make a real contribution to solving the problem of climate change." Soros also pledged $100 million over a 10-year period to the Climate Policy Initiative, a foundation created "to protect the public interest against special interests."
