Eliciting gasps and goosebumps at a press conference this morning at the Clinton Global Initiative in midtown Manhattan, Richard Branson, CEO of the mega-conglomerate Virgin Group, announced a commitment to invest a staggering $3 billion toward solving climate change, focusing his investments on developing biofuels and other oil alternatives. The transcript of his public vow follows:
Our generation has inherited a very beautiful world from our parents and we must not be the generation responsible for irreversibly damaging it. We must hand it over in as near pristine a condition as we were leant it by our parents.
To achieve that we have to wean ourselves off a dependence on coal and fossil fuels. Our generation has the knowledge, has the financial resources, and as importantly the willpower to do so. We're very pleased to be making a commitment to invest 100 percent of all future proceeds to the Virgin Group from our transportation interests -- train and airline businesses -- into tackling global warming, for an estimated value of $3 billion over ten years. Hopefully this contribution will help in a small way our children experience our beautiful world and encourage others to also do what they can. I'd like to thank President Clinton for enabling me to make this commitment today.
To which Clinton replied, beaming: "Now that's a commitment! No matter how cynical you are that's serious money."
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Comments
View as Flat
Kif Scheuer Posted 3:33 am
21 Sep 2006
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sunflower Posted 5:18 am
21 Sep 2006
Not enough.
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PBrazelton Posted 5:24 am
21 Sep 2006
Then again, we could just keep doing things the way we are. I don't think we're the same kind of people who won the second world war.
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caniscandida Posted 5:27 am
21 Sep 2006
Chickens are our cousins!
So are other sensitive animals!
Enough is enough!
No more factory farms!
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El Gato Posted 5:47 am
21 Sep 2006
I'm sure that's what Branson is hoping people think. I wonder if the greater good would be for him to just shut down his airline and train operations. What's the net gain (or loss) in GHG emissions going to be between Vigin's transportation business and whatever indirect offsets are created from his investments in developing technologies?
Mike Z
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amazingdrx Posted 5:50 am
21 Sep 2006
Donate the first batteries to NYCs taxi cab electric fleet. With much fanfare and a big party with the glamorous and famous. Your good at that! Great publicity for the new status symbol. Embracing mother earth.
http://amazngdrx.blogharbor.com/blog
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kmp Posted 6:09 am
21 Sep 2006
He pledges to donate $3 billion dollars, 100% of the profits from his transportation business, and all we can do is complain that it's not enough, and/or tell him to simply shut down his business.
People are going to travel regardless; they can either travel on Virgin, and know that their ticket price will be a portion of that $3 billion invested in sustainable alternative transportation, OR Branson can completely shut down his transportation operation, and people will travel on other airlines/train systems, which will simply continue to put money into the pockets of Big Oil.
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sixteenpaws Posted 7:47 am
21 Sep 2006
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downtoearth Posted 8:36 am
21 Sep 2006
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El Gato Posted 8:50 am
21 Sep 2006
However, I'm still curious as to what is the ecological footprint of Virgin's transportation operations. $3 billion over ten years will purchase a lot of carbon credits, but, from the sound of it, the funds are going into R&D where the benefits may be several years down the road. So, what's the net benefit of this going to be? I think this is a reasonable question to ask.
Mike Z
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sunflower Posted 9:12 am
21 Sep 2006
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j Posted 10:01 am
21 Sep 2006
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Tod Posted 12:32 pm
21 Sep 2006
Yes, it's too little, too late and we're all fucked but I think it's great that we'll go down fighting!
"Because the world doesn't matter if you don't have the strength to go ahead and choose something that's really true." - Julio Cortazar, Hopscotch
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amazingdrx Posted 1:51 pm
21 Sep 2006
Mr Branson if you want cleaner running aircraft support research into solid oxide high temperature fuel cells. They run on any liquid fuel, and by channeling the heated exhaust gases through a turbine, 75% efficiency can be attained.
That system would consume maybe 30% of the fuel that a typical aircraft turbine would consume for the same consumer miles flown. that's a huge reduction in greenhouse gas from aircraft.
This is a better place to put your dollars than synfuel from coal.
And support synfuel from waste and algae growing solar collector systems instead also. It actually recycles CO 2 emmisions from powerrplants or very efficient utility grid connected fuel cell/microturbines that can run on farm waste digestors, for instance..
http://amazngdrx.blogharbor.com/blog
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katwin24 Posted 6:38 pm
21 Sep 2006
I guess this means he's opposed to a carbon tax.
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Whiskerfish Posted 6:40 pm
21 Sep 2006
But it might not be. Time will tell.
Perhaps George Monbiot will have to re-do his website? This went up a few days ago:
http://www.turnuptheheat.org/?page_id=15
Cheers
Whiskerfish
PS Is it just because I'm in Africa, or does there seem to have been a major shift in global warming consciousness in the last few weeks in the 'West'? Seems like there has been a sudden burst of high-profile speeches, letters, announcements etc. that have all got very good media mileage.
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Howard Roark Posted 11:40 pm
21 Sep 2006
He pledges to donate $3 billion dollars, 100% of the profits from his transportation business, and all we can do is complain that it's not enough, and/or tell him to simply shut down his business.
"People are going to travel regardless; they can either travel on Virgin, and know that their ticket price will be a portion of that $3 billion invested in sustainable alternative transportation, OR Branson can completely shut down his transportation operation, and people will travel on other airlines/train systems, which will simply continue to put money into the pockets of Big Oil."
the quote above is one with the ability to actually work towards a better forest, farm, park, wilderness earth.
The below is a quote from one without callouses on her/his hands. Yes New yorkers need battery powered taxis, for the publicity for godsakes...brilliant
"Make a billion dollar battery order and a billion dollar solar panel order to spur mass production now Mr Branson.
Donate the first batteries to NYCs taxi cab electric fleet. With much fanfare and a big party with the glamorous and famous. Your good at that! Great publicity for the new status symbol. Embracing mother earth."
Richard Branson laughed.
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sunflower Posted 12:22 am
22 Sep 2006
There are lots of dedicated scientists and innovators working full time (without adequate funding) to save our civilization from total destruction caused by run-away global warming. Sir Richard investing $3,000,000,000 in reducing the carbon footprint of profitable air travel will be very good for Virgin business, and smart. We need a hundred more Branson types investing in a carbon constrained future.
Feeding soy beans to jet engines does not float my boat. I would rather be sailing across the Atlantic. But that is just me.
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kmp Posted 12:34 am
22 Sep 2006
Here's the list.
It would seem we would have little luck with the oil tycoons, but I would start with casino mogul Sheldon Adelson.
Once again the biggest gainer is casino mogul Sheldon Adelson, with a net worth up $9 billion. Adelson's Las Vegas Sands stock is up 125 percent since its public offering in December 2004. He has made almost $1 million an hour since the 2004 Forbes 400 was published.
At $1 million an hour, I think he can afford to make Vegas "green."
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amazingdrx Posted 1:53 am
22 Sep 2006
The next time I dig up a sewer cover and snake out a drain pipe you wanna help? Didn't think so.
http://amazngdrx.blogharbor.com/blog
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Howard Roark Posted 6:08 am
22 Sep 2006
you got gloves you do any necessary locating...i'll supervise $50.00/hr
now if you'll excuse me the rain allowed me an interesting day and it is time for a stag. im tired of cynics who can't get anything done, so i'll join them.
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