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Philanthropist and co-founder of Microsoft, Bill Gates, leaves after a meeting with France's President Francois Hollande at the Elysee Palace in Paris, Monday, June 27, 2016. (AP Photo/Kamil Zihnioglu)

Bill Gates is leading a $1 billion fund to fight climate change with clean energy


Bill Gates is heading a $1 billion fund to fight climate change by financing clean energy, VentureBeat reports.

Other tech giants involved include Amazon CEO Jeff Bezos, Facebook CEO Mark Zuckerberg, Dr. Priscilla Chan, CEO of The Primary School and Zuckerberg's wife, and Alibaba founder Jack Ma.

The fund is part of the Breakthrough Energy Coalition, which Gates created last year.

Our goal is to build companies that will help deliver the next generation of reliable, affordable, and emissions-free energy to the world.
Bill Gates

The Breakthrough Energy Ventures Fund is expected to have a 20-year lifespan and will fund companies ranging from brand-new startups to fully established companies. It's tied to Mission Innovation, an initiative to commit nations to doubling their clean energy research budgets by 2020.

Solar panels.jpg
FILE - In this March 23, 2010, file photo, installers from California Green Design install solar electrical panels on the roof of a home in Glendale, Calif. The Obama administration is boosting the development of solar and wind energy on public lands. A final rule announced by the Interior Department on Thursday, Nov. 10, 2016, would create a new leasing program on public lands and encourage development in areas where it would have fewer effects on the environment. (AP Photo/Reed Saxon, File)

This comes on the heels of tech giants like Microsoft's progress on renewable energy and Google touting major advancements in clean energy, like Google declaring it's technically running entirely on clean energy.

Here's Gates' tweet to announce the $1 billion fund.

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