Billionaire George Soros plans to invest $1 billion of his own money in clean energy technology, according his announcement Saturday at a conference in Copenhagen. The investment will be both a financial kick for alternative energy and bring awareness to the value of alternative energy as an investment. “I will look for profitable opportunities,” Soros told the conference. “But I will also insist that the investments make a real contribution to solving the problem of climate change.”
I salute the efforts of all those that invest in alternative energy, as opposed to working to pass environmental taxes. Investment shows commitment but pushing for legislation to force green living on people is just an effort to force others to pay for your agenda. I realize Soros puts his financial power to extensive use to influence legislation, but this time, for whatever reason, he chose to invest in clean technology. I hope Soros can turn his $1 billion into multi-billions, without the help of legislators.
Soros’ announcement is great news for green tech and the environment. GreenTech Media reports that Soros’ investment, “will no doubt further the momentum in green investing.” Earth2tech says that, “Cleantech has emerged during the recession as one of the few sectors worth investing in.”
The green energy media understands the value of investing in green technologies; the proof is in their coverage of this story. I am not sure the mainstream media gets it yet. Reuturs placed Soros’ statement about looking for profits in the seventh paragraph of a seven paragraph strategy. Hopefully, with the recent influx of wealthy investors including Warren Buffett and Richard Branson, the mainstream media will be inspired to focus on the investing side in addition to legislation.
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Great movement to investing!
I just hope they truly investigate the matters and choose to invest into truly the most eco and sustainable and recyclable options possible – for example, many solar panels are non-recyclable (yet) or produced in China in dubious and toxic ways.. Ideally, people would invest into non-toxic production and recycling (added value in the long-term), not just look for immediate profits..