Bill Gates upbeat on climate innovation, even if 1.5C goal out of reach

Bill Gates considers himself a realist when it comes to climate change, even if that means conceding the world has little chance of limiting warming to 1.5 degrees Celsius.

He claimed that in order to keep below 2 degrees, “we’re going to have to undertake mind-blowing work” given the “total scope of our industrial economy.”

But what about the 1.5C target set by the Paris Agreement? In a video interview with Reuters, Gates stated that while no one wants to be “the first to announce it,” the arithmetic indicates that it is no longer possible.

Despite this, the software developer-turned-philanthropist was optimistic about climate innovation, listing several areas where low-carbon solutions were being advanced with support from the Breakthrough Energy Group, which Gates formed in 2015.

Direct air capture, solar energy, and nuclear fission are just a few of the climate technologies in which Gates has made more than $2 billion in investments. By 2030, TerraPower, a fission firm with a 14-year history and part of Breakthrough, wants to have a demonstration reactor operational.

According to Gates, a co-founder of Microsoft Corp., these things take time (MSFT.O).

Prior to the publication of his yearly letter, Gates spoke with Reuters, reflecting on 2022 and outlining his top priorities for the upcoming year.

He gave the Gates Foundation’s endowment $20 billion of his money, with the intention of increasing philanthropy spending on public health and education from $6 billion to $9 billion over the following several years.

Warren Buffett was also commended by Gates for his contributions, which he claimed reached $45 billion since 2006 when Berkshire Hathaway’s (BRKa.N) stock appreciation was taken into account.