Branson pledges $3 billion in global warming fight

21-09-2006

Virgin boss Sir Richard Branson has said he will donate more than $3 billion (£1.6 billion) in order to stem the tide of global warming.

Speaking at the Clinton Global Initiative in New York, the billionaire pledged to give all profits from his transportation businesses over the next decade for the cause.

The 50-year-old is one of Britain's most successful and well-known entrepreneurs and owns both Virgin Atlantic airline and Virgin Trains.

"We are very pleased today to be making a commitment to invest 100 per cent of all future proceeds to the Virgin Group from our transportation interest, both our trains and airline businesses, into tackling global warming," he said.

Sir Richard, who is estimated to have a personal fortune of about £3 billion, explained that the global population had to wean itself "off our dependence on coal and fossil fuels".

He told reporters: "Our generation has the knowledge, it has the financial resources and as importantly it has the will power to do so.

"We must not be the generation responsible for irreversibly damaging the environment. We must hand it over to our children in as near pristine condition as we were lent it from our parents," the tycoon added.

The Clinton Global Initiative is an organisation created by the former US president Bill Clinton to tackle a range of problems affecting the world, namely through securing specific commitments from its members.


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