Microsoft says it will provide $100 million to the Breakthrough Energy Catalyst project. Announced over the weekend, the donation will help the initiate create and promote climate changes around the world.
If you are unfamiliar with the Breakthrough Energy Catalyst program, it is a creation of Microsoft founder and former CEO Bill Gates. It aims to find and promote new climate-focused technologies. It also pushes for policy changes, promotes innovation, and seeks investment for net-zero. The initiative aims for a global net-zero by 2050.
While the project has that goal, it admits reaching it “might be the most difficult challenge humankind has ever taken on.”
To have any chance, different branches must unite for a common goal. That is what Breakthrough Energy Catalyst aims to do. It works to bring together private and public sectors to develop green solutions. Many climate projects fall at the first hurdle, finding funding and investment. Breakthrough helps to connect innovations with investors and also to finalize commercial demonstrations.
Microsoft says its donation will help the Breakthrough Energy Catalyst to develop solutions across energy storage, green hydrogen, direct air capture, and more.
“In our work, we have learned that the market needs to go even further, faster,” Microsoft says. “Such an acceleration will require investments outside of our fee and our fund — donations targeted toward the reduction of the green premium that climate solutions often carry.”
Microsoft’s donation comes from the $1 billion Climate Innovation Fund, which was announced last year to help Microsoft drive towards its loft environmental commitments.
Microsoft is a leader in climate goals, and wants to be carbon negative by the end of this decade. It’s a significant extension of its 2017 commitment to cut 75% of its carbon emissions by the same date and builds on 2019 revisions of 70% renewable energy by 2023 and the creation of 825,000 carbon-neutral Xbox’s.
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