New York (CNN Business) Bill Gates has pledged $1.5 billion over three years for climate change partnerships with the Department of Energy, through his climate investment fund Breakthrough Energy. The $1.2 trillion bipartisan infrastructure bill — which still needs to be passed by the House — has more than $100 billion dedicated to addressing climate change , from sweeping programs that address extreme weather to electric school buses. Part of this is $25 billion in funding to the DOE for demonstration projects via public-private partnerships, which will include Breakthrough Energy Catalyst. Breakthrough Energy's Catalyst program hopes to accumulate up to $15 billion to fund "climate smart technologies" through public and private financing across different industries. Other projects direct air capture, which would capture carbon dioxide straight from the atmosphere, and long-duration energy storage.

Source: CNN August 12, 2021 18:22 UTC