Richard Branson to Fight Global Warming

This story has been making headlines today. Richard Branson said today that all of his profits from his travel businesses, which are made up of five airlines and a train company, are going to be invested in developing alternative energy sources. Estimates show the amount that will be donated will be approximately $3 billion over the next ten years.

Branson has already pledged to invest $400 million over the next three years on biofuels. The investment was made to create Virgin Fuels. In this case, his investments will go to companies researching ways to fuel the world without contributing to global warming.

Branson made the latest announcement at the Clinton Global Initiative, a three-day conference currently being held in Manhattan. At the conference, businessman Steve Bing made a committment to contribute $40 million to help push the passage of Proposition 87, which aims to lower California's dependence on petroleum 25% over the next ten years.