Bill Gates joined day two of President Joe Biden’s virtual “Leaders Summit on Climate” on Friday with a message to world leaders about the necessary steps they must take to avoid a climate disaster.
The Microsoft co-founder and co-chair of the Bill and Melinda Gates Foundation said it will be virtually impossible to meet any goals associated with combating climate change using today’s technology, because nearly all of today’s zero-carbon technologies are more expensive than their fossil-fuel counterparts.
Gates, who shared his full message on his Gates Notes blog, said in order to make affordable zero-carbon products, leaders must “invest in innovation and build the infrastructure for the transition to a clean economy.” That will require three steps:
- Develop and deploy breakthrough technologies that allow us to eliminate emissions throughout the physical economy.
- Tap the power of markets to fund and deploy these innovations — for example, by finding creative ways to finance technologies, and by leveling the playing field so they can compete with fossil fuels.
- Governments and corporations need to adopt policies that will make it faster and cheaper to make the transition, and leaders will need to reward those who take difficult steps.
Gates, whose Breakthrough Energy Ventures is an initiative to help the planet reach zero carbon emissions through innovation, also said he has a new program called Breakthrough Energy Catalyst. It will raise money from governments, philanthropy, and companies to make the large capital investments needed to bring down the cost of emerging technologies.
Watch Gates’ remarks at the 32:10 mark of the video below:
