Branson Makes $3 Billion Climate Pledge
Sir Richard Branson’s announcement that he is to donate the next 10 years’ profits from his Virgin travel businesses to the fight against global warming is the latest – and most significant – act of philanthropy from one of the world’s best known businessmen.
The move, announced in New York, on a podium alongside Bill Clinton, is estimated to be worth $3 billion (Â£1.6bn) over 10 years – about half his current personal fortune.
Just a week earlier Sir Richard had unveiled plans to invest hundreds of millions into the production of environmentally friendly fuel.
Branson made the announcement on the second day of the Clinton Global Initiative, an annual conference of business, political and nonprofit leaders hosted by former President Clinton.
“Our generation has inherited an incredibly beautiful world from our parents and they from their parents,” Branson said at a news conference with Clinton at his side. “We must not be the generation responsible for irreversibly damaging the environment.”
The commitment ensures that the conference, which brings people together to brainstorm on solutions to global issues, would more than meet its goal of matching last year’s efforts. In 2005, the conference received more than $2 billion in pledges. BBC.com