Branson pledges $3 billion at Clinton Global Initiative in NYC, to combat global warming

Thursday, September 21st 2006, 10:26 am
By: News On 6

NEW YORK (AP) _ British business mogul Richard Branson said Thursday he would invest about $3 billion to combat global warming over the next decade.

Branson, the billionaire behind the multi-platform Virgin brand, said the money would come from 100 percent of the profits generated by his transportation and airline sectors. It will then be invested in efforts to find renewable, sustainable energy sources in an effort to wean the world off of oil and coal.

Branson made the announcement on the second day of the Clinton Global Initiative, an annual conference of business, political and nonprofit leaders hosted by former President Clinton.

``Our generation has inherited an incredibly beautiful world from our parents and they from their parents,'' Branson said at a news conference with Clinton at his side. ``We must not be the generation responsible for irreversibly damaging the environment.''

Clinton praised Branson, calling him one of the most ``creative'' and ``committed'' people had ever known.