Climate Capitalists Have Serious Money in Climate-Friendly Investments
Wednesday, September 25, 2019
Bets of clean technologies have ballooned this decade. Over $2.6trn has flowed into low-carbon energy alone since 2010, according to Bloombergnef, a research firm (see chart 1). Now that some ventures have soured, after green subsidies grew stingier around the world, many investors are thinking again.
Many, but not all. A clutch of industrialists and entrepreneurs are doubling down. The Economist’s unscientific survey has identified 12 with notably climate-friendly dispositions, and a combined net worth of $200bn (see chart 2). Some, like Elon Musk, Bill Gates and Michael Bloomberg, are household names. Others are little-known outside their industry. Their wagers cover mature technologies (electric cars, wind turbines), fast-maturing ones (high-voltage grids, meatless burgers) and out-there ideas (turning carbon from the air into useful stuff). All want to do good by the planet. Most expect to do well for themselves.
Photo courtesy of Carl Attard.