Various US companies, including American Airlines, Microsoft, and General Motors have committed to boosting clean energy by joining Bill Gates’ Breakthrough Energy Program.
The program’s purpose is to boost development of technologies that will aid in achieving the target of net-zero carbon emissions by 2050.
The initiative aims to raise money from governments, companies and philanthropists to make capital investments in an effort to bring down the cost of clean technology.
Bank of America, Boston Consulting Group, steelmaker ArcelorMittal SA, and the philanthropic arm of asset manager BlackRock Inc are just a few others who have joined the program, Breakthrough Energy states.
American Airlines have said in a statement that it has invested $100 million. The initiative will start by focusing on four key areas: green hydrogen, direct air capture, long-duration energy storage and sustainable aviation fuel
This support comes after President Joe Biden’s plans to accelerate carbon cutting. The White House said it was targeting 20% lower aviation emissions by 2030.
