Governments and business leaders from around the world are teaming up to combat climate change. The group, which includes Bill Gates, Mark Zuckerberg, Richard Branson, Jack Ma, Indian Prime Minister Narendra Modi, Chinese President Xi Jinping, French President Francois Hollande, Prime Minister Justin Trudeau, and U.S. President Barack Obama, to name a few, agreed to invest in the research and development of clean energy technology.
The group discussed the details of Mission Innovation at a Gates-staged event at the Paris COP21 venue on Monday. There, Gates announced that private investors would be putting in $7 billion for research and development of clean energy. Prime Minister Justin Trudeau announced that Canada would be contributing $300 million a year.
“It lines up very well with what President Obama and others are calling for in Mission Innovation,” Trudeau said at a news conference prior to the Mission Innovation launch. “So we’re very pleased to be part of this international initiative.”
According to Gates, the money would be used to support a wide range of technologies, such as “biofuels, carbon capture, high wind, fission, fusion.” He added that it doesn’t really matter what the technology is, as long as it is clean and is “possible to scale up cheaply.”
At the UN climate summit in Paris on Monday, Trudeau made it clear that fighting climate change was a top priority for his government, as he told the other delegates that Canada will act on five principles when it comes to curbing climate change. He said that Canada will rely on scientific evidence; will implement policies to develop a low carbon economy; will work with provincial and territorial leaders, city mayors and indigenous leaders to harmonize plans; will help developing nations with adapting to climate change; and will look at climate change as an opportunity to develop a sustainable green economy.
Trudeau added that he will not “sacrifice growth” to develop a green economy. Rather, he wants to build it by investing in new technologies and creating green jobs.
Monday is the opening day of the international climate change conference.