Former U.S. President Bill Clinton received $7.3 billion in pledges during its second annual gathering of his aid initiative in New York. The package involves 215 commitments including that from British entrepreneur Sir Richard Branson, who promised to spend $3 billion of his personal profits from airlines and a rail company to help the fight against global warming over the next ten years. A day after Branson’s announcement, Clinton launched “Green Fund,” a $1 billion investment facility for renewable energy. “The Earth is warming at an alarming rate, we are running out of fossil fuels, and it is long past time for us to take action to correct these problems. This is also a tremendous opportunity, and there are countless good new jobs to be created in the field of green energy,” he said. Former World Bank President James D. Wolfensohn will oversee the new fund while Clinton will act as its senior adviser.
Sources:
Clinton Effort Reaps Pledges of $7.3 Billion in Global Aid (The New York Times)
Clinton Global Initiative nets 7.3 billion dollars in pledges (Agence France-Presse)
Ex-US Pres Clinton Secures $7.3B To Tackle World Problems (The Associated Press)
