Bill Gates is set to announce a global fund to research and develop new clean-energy technologies Monday as landmark United Nations talks on climate change get under way in Paris, Greenwire and The New York Times report. Described as the largest such effort in history, it will channel billions of government and philanthropic dollars into spreading the use of renewable sources such as wind and solar power, people familiar with the plan told the news outlets.
Along with contributions from other billionaires and philanthropies, the pact includes commitments from participating countries, including the United States, to double their spending on clean-energy development, according to the sources. The Bill & Melinda Gates Foundation declined to comment.
Mr. Gates, who earlier this year pledged to invest $1 billion of his own fortune in renewable energy, is joining more than 100 world leaders gathered in Paris to hammer out a global deal on reducing fossil-fuel emissions. The new fund "is the beginning of a broader effort to demonstrate that clean technology research and deployment will be the key to meeting the climate goals made in Paris," said a former government official with knowledge of the plan.