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Soros to Invest $1 Billion in Clean Energy, Form Advisory Group

Publication Date: 
October 11, 2009
Source: 
Bloomberg.com
Author: 
Katherine Burton

Professor Thomas Heller, an expert in energy and environmental law, will head up the Climate Policy Initiative, which will look after public interest as governments address climate change. The initiative is funded by George Soros, who is donating $100 million to the group over the next ten years, and planning to invest $1 billion in clean energy technology. Bloomberg reports:

Billionaire George Soros, looking to address the “political problem” of climate change, said he will invest $1 billion in clean-energy technology and donate $100 million to an environmental advisory group to aid policymakers.

Soros, the founder of hedge fund Soros Fund Management LLC, announced the investment in Copenhagen on Oct. 10 at a meeting on climate change sponsored by Project Syndicate. The group is an international association made up of 430 newspapers from 150 countries.

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Soros, 79, also will establish the Climate Policy Initiative, a San Francisco-based organization to which he will donate $10 million a year for 10 years.

“It will be part advisory service, part policy developer and part watchdog,” said Thomas Heller, who is heading the initiative. Heller is a professor at Stanford University Law School in Stanford, California, whose expertise is in energy law and regulation and environmental law.

Its goal is to look after the public interest as policies and programs are created to address climate change. The group will work in the U.S., Europe, China, India and Brazil, he said.