News

Virgin chairman Sir Richard Branson is to use the profits from his airline and rail businesses over the next ten years to fight global warming.

Around £1.6 billion will be invested in research into new forms of fuel and ways to tackle carbon emissions.

Sir Richard made the announcement in New York at the Clinton Global Initiative a conference hosted by former president Bill Clinton.

He said: 'We have to wean ourselves off our dependence on coal and fossil fuels. Our generation has the knowledge, it has the financial resources and, as importantly, it has the will power to do so.'

Mr Clinton said: 'Richard's commitment is groundbreaking not only because of the price tag - which is phenomenal - but also because of the statement that he is making: clean energy is good for the world and it's good for business.'

The Clinton Global Initiative has so far raised £3 billion to fight poverty, disease and climate change, over double the amount raised last year.


© Adfero Ltd