Branson Commits $3B to Renewable Energy

September 21, 2006

Email this story Print this post Add your comments

Virgin Group founder Richard Branson will spend three billion dollars in the next 10 years on a variety of projects to combat global warming and reduce dependence on fossil fuels. The announcement was made at the Clinton Global Initiative in New York, Yahoo News reports.

Branson said Virgin Group will invest all future profits from its airline and train businesses into renewable energy initiatives within the company and in other investments in new biofuel research and other projects to tackle emissions related to global warming. Virgin currently estimates this commitment to be three billion dollars over the next 10 years.

Virgin said the initiative would take the form of investment in new fuel technologies through an investment unit called Virgin Fuels, for which Branson’s group has pledged 400 million dollars in the next three years.

The first investment is in Cilion, which was announced earlier this month.

Email this story Print this post Add your comments

Advertisers

Enhance Sustainability. Improve Profitability.

Learn how at the SAP Sustainability Resource Center. >>

Unclear about the EPA's new GHG Rule?

Learn how it could affect your business. >>

EPA mandatory emissions reporting starts Jan 1st

CSA Standards can help your organization get ready for compliance. Find out how. >>

Survey Results: Product Environmental Compliance Best Practices

How to achieve compliance at a significantly lower cost. Download the full report. >>

Join the Discussion

Recent Daily News [ see all ]

11/20/2009
11/19/2009
11/18/2009

Charts [ see all ]

European Paper Industry Cuts CO2 Emissions by 42% since 1990

S. America Takes Most Urgent View of Copenhagen Talks

Nike Tops Annual Climate Action Scores

Oceans May Trap more Carbon than Forests

Jobs

View All Jobs >> Post a Job >>

Comments and Discussions

Environmental Leader on S. America Takes Most Urgent View of Copenhagen Talks
"The survey respondents (the PDF report mentions 4,000 respondents in 38..."

Jake on UPS Trying New Hydraulic Hybrid Trucks
"A point of clarification: the Reuters press release referenced herein reports that 20 UPS will purchase..."

Custom Organic Shirts on S. America Takes Most Urgent View of Copenhagen Talks
"90% of North Americans believe it is urgent to get a global climate..."

peter dublin on California City’s Green Building Ordinance Applies to Commercial Buildings
"Why energy efficiebnt regulation on buildings –..."

JEONG CHUN PHUOC on EU Poised to Give Heavy Industry Free Carbon Permits
"“Competitive Intelligence in Environmenting : A Holistic Deal for..."

Philip Vandenberg on Building an Energy-Efficient Data Center Using Virtualization Technology
"Rob has implemented many best practices for data centres..."

George Hoguet on Rising Sea Levels Would Hit U.S. East Coast Hardest
"Want to add some pressure into the system? Check out the Facebook group -NO TV..."

Environmental Leader