The Senate's bill, which is worth $1.2 trillion, has not yet made its way through the House, but will offer the Department of Energy $25 billion toward projects that showcase the practicality behind having clean energy technologies. From a broader perspective, the money is just one aspect of the bill's ultimate intention to diminish greenhouse gas emissions.
Through his firm, Breakthrough Energy, Gates has made the decision to invest in funds for over three years in order to decrease these greenhouse gas emissions. In these particular projects, he would direct attention to zero emissions plane fuel, long-lasting energy storage, green hydrogen, and direct air capture.
"If the Infrastructure Investment and Jobs Act becomes law, this collaboration will not only send us on a more durable path to net zero, but will create both immediate and long-term jobs in communities across the country," Gates said in a statement, quoted by CNBC.
Regarding the net-zero emissions that Breakthrough Energy would like to obtain, Secretary of Energy Jennifer Granholm expressed elation. "Welcomed news! This shows the private sector is ready to answer the call to combat the #climatecrisis," Granholm stated in a tweet.
By the year 2050, the Biden administration has agreed to get the United States to achieve net-zero greenhouse gas emissions. Some of the most top-notch climate scientists have discovered that reaching this particular objective on a worldwide level could potentially evade certain impacts of climate change.
Bill Gates's new investment fund for purposes of fighting against climate change is a project that is ultimately intended for purposes of decreasing greenhouse gas emissions.