Branson Pledges $3 Billion to Combat Global Warming: Credits Al Gore

[DeepModem Mom]

Branson Pledges $3 Billion to Combat Global Warming
By Todd Zeranski and Courtney Dentch

Sept. 21 (Bloomberg) -- Richard Branson, the U.K. billionaire who controls Virgin Group Ltd., said he will contribute $3 billion over 10 years to combat global warming.

His pledge at the Clinton Global Initiative meeting in New York exceeds all the commitments made at last year's conference of government, business and nonprofit leaders to address issues including poverty, health and climate change.

"No matter how cynical you are, that's serious money,'' said former President Bill Clinton, who organized the event....

***

The pledge will amount to all the proceeds from Virgin's transportation units, Branson said at a New York press conference.

"Al Gore came to my home in London and said, 'You are in a position to make a difference, and if you make a giant step forward, other people will follow,''' Branson said....

http://www.bloomberg.com/apps/news?pid=20601102&sid=aCZ3cwRKQdg0&refer=uk

[AlGore-08.com]

1. Branson credits Gore in the Bloomberg article

http://www.bloomberg.com/apps/news?pid=20601102&sid=aCZ3cwRKQdg0&refer=uk

Branson Pledges $3 Billion to Combat Global Warming (Update1)

By Todd Zeranski and Courtney Dentch

Sept. 21 (Bloomberg) -- Richard Branson, the U.K. billionaire who controls Virgin Group Ltd., said he will contribute $3 billion over 10 years to combat global warming.

(snip)

``Al Gore came to my home in London and said, `You are in a position to make a difference, and if you make a giant step forward, other people will follow,''' Branson said.

(snip)

Virgin is working to power its Virgin Air planes using renewable energy, he said. Earlier this month, Branson announced the creation of Virgin Fuels and said he would investment as much as $400 million to fund renewable-energy projects to reduce dependence on traditional fuels.

(more... )

[DeepModem Mom]

2. I hope you don't mind -- I edited to post your much better article.

Thank you!

[LARED]

3. I wonder how the stock holders will react?

I applaud his actions, but it sounds risky to pledge that much.

[RestoreGore]

26. I agree

Especially considering the market he's in.

[cyberpj]

4. Branson bets billions to curb global warming (at Clinton's Conference)

Virgin airlines founder announces plan at Clinton Global Initiative

NEW YORK - British business mogul Richard Branson on Thursday pledged to commit all profits from his transportation businesses over 10 years to combat global warming — profits that he estimated would reach $3 billion.

Branson, the billionaire behind Virgin Atlantic Airways and the multi-platform Virgin brand, announced the pledge at the Clinton Global Initiative, a conference being hosted by former President Clinton.

“We are very pleased today to be making a commitment to invest 100 percent of all future proceeds to the Virgin Group from our transportation interest, both our trains and airline businesses, into tackling global warming,” Branson told a news conference.

article:
http://msnbc.msn.com/id/14936341

[Vidar]

5. Good man.

[dave29]

6. Al Gore is speaking to the Clinton Global Initiative Now

you can watch via the CNN Pipeline

[BrendaStarr]

7. What Does it Matter if the Republicans Win Control of House and Senate?

Anything, anyone with personal wealth can do will be flooded out with the GOP's allowing big business to do what it wants.

And the Republican program to take over the world for their brand of capitalism which will spread the control of big business ever further.

[Raine]

14. True except that

many big businesses are finally realizing that global warming is not good for their business...see post no. 9 in this thread. I have heard that even Walmart is becoming concerned, there is no money to be made on a dead planet.

[krkaufman]

22. Well, as a great man once said...

... "Reality proper has a way of insisting itself upon you."

The Republicans will eventually come to the end of their road, and even a sufficient chunk of the ignorant 40% will come around. We just gotta hope that the world hasn't gone past the point of no return by then.

[nam78_two]

8. Gore 2008

:bounce: :bounce: :bounce:

[civildisoBDence]

9. There are even corporations coming on board

Both GE and BP use environmental responsibility as a central part of their marketing programs.

Don't know if it's a central part of their business models, but it's a start.

Newsprism

[Janice325]

10. I wish The Real President was really President right now.

:cry:
I hope Gore decides to run (and wins!)in 2008.
The man is truly amazing and I greatly admire him.
k&r

[cosmic _mind]

11. yes

that would be the best thing ever! He is awesome!

[kestrel91316]

12. There is absolutely nothing sexier to me than a wealthy man

with a TRUE social conscience.

You GO, Mr. Branson!!!!!!!!

[Lydia Leftcoast]

13. But is he going to cancel his short-haul flights and

finance the building and/or improvement of railroads to replace them? I know that Virgin already runs some of the trains in the UK, but getting out of absurdities like flying from Manchester to London or from Dublin to Belfast and moving the resources into true high-speed rail would be the acid test of his commitment to reducing global warming.

[mwooldri]

23. Branson via Virgin Trains are spending ££££'s on West Coast Mainline

The whole cost is now estimated at £13 billion.... originally the rails were to be upgraded to go 140mph and cost £2 billion to upgrade. However after finding out how knackered out and how costly it really does cost to fix it, the cost went up dramatically. And yes Virgin Trains is paying for it, in track access charges for one, and directly to Network Rail also.

Mark.

[Lydia Leftcoast]

24. Good for him, then

I recalled after posting that I had seen Virgin Trains in the UK...

[Guaranteed]

15. WOW. NICE job, sir. K & R. nt

[maxsolomon]

16. i thought you meant Branson, MO!

bcuz that would be something

[HeeBGBz]

21. I did too

I was born there and I can tell you that would be a feat.

[crispini]

17. k & r

[bamacrat]

18. Good to see that money doesnt corrupt all.

[Straight Shooter]

19. Thank you, Mr. Branson.

A billionaire from the United Kingdom trying to shake America out of its global-warming-ain't-real stupor. With that much money in the pot, which corporate kingpin from the U.S. will raise the ante? Anybody?

:patriot:

[The Sushi Bandit]

20. That brings a tear to my eye!!

Bless them all!

[RestoreGore]

25. Who can throw the most money at this now....

To make the most political PR effect. It won't do any good unless we see results (are his transportation units sustainable?) and I personally think that while it is a lot of money (that again we don't know if it will really be seen over the years since this is just a "pledge") it seems this issue is now being turned into a rich man's issue. I'm poor by standards but I care about this climate crisis ... only my commitment and the commitments of others in the same category who do all they can in their daily lives to cut their impact upon this planet will never be recognized because we can't get invited to such elitist events and "pledge" millions to get our pictures in the paper (not that I want that, I'm just making the point.)

Why couldn't Mr. Branson then pledge this money to Al Gore's Alliance for Climate Protection apart from Clinton's event if he credits him? I think Bill Clinton is only keeping Mr. Gore close to keep an eye on him anyway, and it's all political. Too bad too because Mr. Gore is sincere about this issue, but here we have once again the, "I can donate more money than you to the cause" competition going on with the photo ops, rather than really outlining grassroots solutions that need to be enacted NOW. All I can say is, I hope the money is realized and actually does some good for the planet, which should be the number one focus.

[bagrman]

27. Won't want to kill the cash cow.

Not long after 9/11/01, NPR ran a story on the fact that the US average temperature dropped and average of 4 degrees, after all the planes were grounded due to the New York attacks. I get up early and heard this report only one time, that day. So if the Virgin Pres. wants to make a big difference right away, then he should ground his airline, but that ain't going to happen, everyone thinks that flying is some kind of right.


Latr
Chris

[RestoreGore]

28. Yes...

And again, how many rich will think they can now pledge huge sums of money to the cause and think it then absolves them from changing their behavior? And I'm not saying he isn't sincere in this because I don't know one way or the other. However, he pledges this over a ten year period (for what?) all the while CO2 is still going to be pumped into the air. I guess what I'm saying is that because this issue is so URGENT, why are pledges where money hasn't even been realized yet getting such accolades? I'm waiting to see actual actions NOW (like yes, grounding a portion of his planes or installing engines on them that cut emissions NOW) that are substantial, which is what we must see, not "pledges". Although, I don't know what he may have done to this point, so I'm going to check it out.

[RestoreGore]

29. Virgin's Website Shows Nothing

http://www.virgin.com/uk/default.asp

Unless I'm just not looking in the right place.

[RestoreGore]

30. Ok, found this

http://www.virgin.com/aware/future.asp

Which is a really good start. So again, I hope this pledge is then realized and it goes to truly helping to sustain the planet.