Microsoft founder Bill Gates wants to invest a total of two billion dollars in projects and start-ups in the next five years to avert climate change, reports said on Monday.
Innovations were needed to avert a climate disaster, Gates said in remarks published on Monday in the German business daily, Handelsblatt.
He said this was not impossible, but would be very difficult.
Gates also called for a five-fold increase in government investment in clean energy research and other climate innovations worldwide within the next decade.
The entrepreneur and philanthropist estimates that research worth at least 110 billion dollars would be needed annually.
In his new book, “How to avoid a climate disaster,” Gates calls for Carbon Dioxide(CO2) emissions to be completely eliminated by 2050 in a bid to avoid enormous environmental and economic damage.
Gates says man must change the physical economy at a pace never seen before.
In addition, he believes that CO2 taxes, certificate trading and alternative energies, such as solar and wind power are indispensable.