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.
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.
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.
WATCH | You know Bill Gates is the richest man in the world. But let's try to put that in perspective.
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