Soros Invests $1B in Green Technology

Billionaire George Soros will invest $1 billion in clean-energy technology and form an organization to further legislative action on climate change. “I want to apply rather stringent criteria to the investments,” Soros told Bloomberg. “They should be profitable but should also actually make a contribution to solving the problem.” Soros announced the investment in Copenhagen at a meeting on climate change. The Climate Policy Initiative will be established in San Francisco, he said, and he'll donate $10 million a year for 10 years to the project. “We will be part advisory service, part policy developer, and part watchdog,” said Thomas Heller, who is heading the climate initiative. “The problem of global warming is primarily a political problem at this point,” Soros said. “The science is beyond dispute, but how do we achieve the objectives we all know are necessary? That is a political problem.”