News – Virgin boss Richard Branson has pledged to donate $3bn (£1.6bn) to fight global warming.
Karina:
Branson made the pledge at a press conference held this morning at the Clinton Global Initiative conference. C.K. and I were at the conference; my reactions follow below, and C.K. is preparing video as we speak.
Branson was the third "commitment maker" to speak. The first, Klaus Kleinfeld of Siemens, announced a commitment of $10 million toward bringing innovative medical technology to rural China. Then, MacArthur Genius Grant winner Majora Carter, the founder of Sustainable South Bronx, announced a partnership with Bradco Supply, to launch an urban forrestation project here in New York City.
Still, Branson was, undeniably, the star of the morning. The jeans-clad Virgin CEO announced that he plans to donate all profits from Virgin's train and air businesses to bio-fuel initiatives for the next decade. The statement was met with a very audible gasp from the press corps, and a huge round of applause. It's certainly a massive gesture, even if it may not be as altruistic as it seems. When pressed, Branson acknowleged that the $3 billion will go to support programs that will eventually save Virgin a substantial amount of money on fuel costs, and/or actually produce additional profits.
With Branson's pledge, CGI 2006 total of monetary commitments has hit $5.7 billion -- more than double the $2.5 billion pledged at CGI '05.
Update, C.K., 12:30pm EST: Video is done. Karina's wonderfully shot segment from her tripod leads the video, but about half way through, her battery cut out, and we unfortunately had to switch over to my handheld b-roll footage. Apologies for the audio quality in the second part of the video.
Credits:
Video: Karina Longworth & C.K. Sample III
Intro Music: Pl@stic
Make sure you check out all of our CGI '06 coverage via the cgi06 tag. We also have an interview with Shai Weiss, CEO of Virgin Fuels, discussing the announcement available here.
2006-09-21 11:36:38
I love this guy!!! Like Bill Gates, Ted Turner, these men are using their money to make a better world, unlike Cheney who is making a killing with Haliburton....may he roast in hell....God has already struck him 2x and he still is just as Greedy!! I am sure now that he didn't see his near death experience because it was all "black" just like hell....only the flames didn't get to him in time to make an impact....
It is wonderful to know that there are wealthy people like this that do care about the future and want a better world for the following generations. Hip, Hip, Hurray Sir Branson!!!
Eagle Eye:
Your hatered is confounding. Is there something intrinsically evil about wealth? Would Branson be evil if he kept it for himself (Which he is)? He's simply investing in a technology/energy venture which he owns and we all know that when these investments succeed they suceed BIG!
I admire him too. He's smart!
Yes rrrtx, he does. And as I'm sure you know in the process of generating all those billions in profits he has contributed significantly towards the global warming problem, assuming it exists. He's as tired of seeing his airline profits being hijacked by high oil prices as anybody else is. The difference is he has the wherewithal to attempt to do something about it. He wants to invest in alternative energy, wrap it in the cloack of altruism and turn the former president and his loyal fans into his cheerleadres. Hopefully in the end He'll reap bigger profits. Again, he's smart.
2labs
when the money made is by shotchanging employees and by the suffering of others it is evil. When you make money by overcharging the same country you profess to love as Cheney does. Well lets just say what comes around goes around.The true God that you all give lip service to because it is easier that following his principles WILL sort things out.
There are more important things than money.Alexander the Great was paraded around after death as he wished, with his empty hands displayed to illustrate that you cannot take it with you.Time would be better spent earning that which will stay with you!
"2006-09-21 12:48:06 Webreader: Send Message
Hey, this is one of the most common 'typos' in the media these days, but it works! Global WARMING is a global warning. We've been warned for nearly 50 years now, dating back at least to Rachel Carson's {Silent Spring}heyday. Bless Branson and Bill Clinton, et al."
Your right, good reference on Rachel Carson. Yet the Right must be really confused by this. Especially Rush Limbaugh. Why would somebody donate billions to fight an issue that doesn't exist? They are so involved in finding ways to destroy the Earth and its inhabitants they aren't concerned about what the Earth will look like in fifty years. If they stay in power the rest of us probably won't have to worry either.
Hey, I thought this guy was supposed to step down from Virgin and give it to the winner of his reality TV show...anyway..I like the guy as well....but there already IS a way to get "free" non-polluting energy. The Earth is a huge magnet, all we have to do is either get a space tether(should be possible with carbon nano-tubes) or beam the energy back to earth via microwave(could be dangerous). A recent space mission proved that a simple conductor(they used copper wire) can easily harness the energy...it actually EXCEEDED their expectations by ~300%.
If I had the resources this guy did...I would get this project rolling.
As usual great philantropists first appropriate profits that were generated by their employees and should be rightfully divided between them and then spent such funds on projects that are either irrelevant or which try to solve problems to which creation their own companies contributed. The basic cause of global warming are human activities and related damage to the biosphere. Unless we are able to limit growth of human population technological progress will be just prolonging inevitable results of our existence. Of course, we could do less damage to the environment e.g. by limiting use of SUVs or ending senseless move of goods thanks to the global trade. We could also stop deforestation of vast areas by returning to older building technologies. However I just do not see it happen. Too much business and self interests would be affected.
2 Labs: you need glasses, reread my post:
((It is wonderful to know that there are wealthy people like this that do care about the future and want a better world for the following generations. Hip, Hip, Hurray Sir Branson!!!))
duhhh
I also gave tribute to Bill Gates and Ted Turner who also are giving away billions! I have alot against wealthy people like Cheney that do nothing to help this world...I think an apology is do....
khidrsahib: First I think you are making some very broad assumptions about Vice President Cheney that I highly doubt you can support. Secondly can you clarify what you are saying in this quote? "The true God that you all give lip service to because it is easier that following his principles WILL sort things out." It appears that you acknowledge that our God, I assume you mean a christian God, is the true god, yet by you label I might make the mistake of assuming you are muslim. This doesn't seem to jive for me and I don't want to presume.
Sorry Eagle Eye I don't see an apology forthcoming. My point is that you seem to judge these people as evil or not based on weather they reinvest it in income producing ways or give it to causes of which you approve. Again I ask, would you consider Mr. Branson Evil if he did not pledge future profits to himself as he did. Please keep in mind that the story says he will donate future profits. If there are no profits he gives up nothingl. But because he is giving up profits he is morelikely to generate them because his chearleaders, like yourself are more likely to use his products and services when the choice comes. Put on your business cap for a moment if you have one. Of course it probably has horns on it.
I have a favorite expression: It is not a meal unless everybody eats! In this case, in any order that pleases you who want to quibble about who eats more or first:
Earth and the people who live on it, America, England, The East, the West, Branson, Clinton, the Economy. Who have I forgotten? Oh, the people who will not eat with gusto-
The Middle East.
2Labs: I have no doubt that Sir Branson will see much profit in the future because he is a wonderful business man..therefore there will be much more money to help the needs of the world. God will bless him with lot's of money....but you acccused me of being hateful against wealthy people when I only singled out Cheney.....I love being wealthy!!!! Allows me to be a full time volunteer for my God and country the past 30 years!! Now go pick up your pay check from the Republican party.
Since you have no profile I have no idea who or what you are. My profile clearly states I am a woman doing God's work and I have a halo...the horns are yours....
Webreader: Racheal Carson's book "Silent Spring" opened my eyes up 20 years ago so that I could do the work I do. God Bless her and all the people that care about the earth.
Eagle Eye:
At your prompting, I read your bio. How nice for you. It appears even more to me that you are flying with your eyes wide shut. First, it appears that you believed everything that they taught you in school, then you red a nice little book and know you believe everything that the nice little book told you and you redirected your life. It really doesn't matter I suppose as long as your happy and are pursuing your goals.
Do you wish to expound on how the BIG Oil and Chemical companies handicapped you? If they were little oil and chemical companies would they have crippled you any less?
It is wonderful to know that there are wealthy people like this that do care about the future and want a better world for the following generations. Hip, Hip, Hurray Sir Branson!!!
Eagle-It's his money and I applaud him for doing something he feels is right, but if $.52/day will feed one starving child, I am not good enough at math to figure out how many starving children 3Billion would have fed. This world has real problems and because of Al Gore, and the liberal spinmisters, money like this gets put into problems that only about 1/2 of the scientists really believe is a problem. Again I know its his money and I do applaud him trying to do something good with it though.
To everyone who believes that global warming is a "phantom" problem, I would love to hear their reason for the melting of the polar icecaps, the sinking of smaller islands in the Pacific, the thawing of the permafrost (which is releasing even more carbon dioxide into the air) and the crumbling glaciers throughout the world.
Hey-- one at a time people! You'll all get your chance.
Great Point oreooreo. Your number is 5,769,230,769.23. And if we can get a little bit of economies of scale and bring the number to $.50/day we can make it an even 6 trillion.
But watch out. Someone will say we should just teach them to fish and then we'll have an overfishing problem. Sheit! When will this madness end?
2labs: I washed oil soaked otters in Valdez and Exxon's crude oil gave me premature arthritis, then I did research next to the Little Rock Air base, where they made Agent Orange, Purple, Blue and Pink, Lindane DDT, Hetaclor, Everything that is banned now and declared deadly. The whhole town was sick from being poisoned.
It was no little book I read, it was life experience that has given me the true reality of how badly this world is poisoned.
But you sit behind your desk without any handicaps and judge the rest. I'm done with you, I have broken my own rule "Don't argue with idiot's, they drag you down to their level and then beat you from experience."
oreo: There are a lot of good Christian organizations that are feeding the hungry; I agree this is a world problem. Also Bill and Melinda Gates along with other wealthy people are now starting to address this issue. Every one can help in their own way where they feel they want to. Spread the wealth all over the world. When people come forward and do things like this, others follow and will do more good. I am grateful that this is a positive beginning!
There is only one reason to claim global warming is a phantom. That is because you want to continue to rape the earth and lay waste to it natural beauty and resources for money and greed. You do this under the auspices of the Biblical directive to subdue the earth. God also wants you to be good stewards of it. Even morons can see the logic. The population has increase from 1 to 6 billion in only 150 years. This coupled with the industrial revolution means that this is a NOT NATURAL CYCLE. Go back to science class and listen this time!
I applaud Mr. Branson, and anyone else who puts their money where their mouth is.
A lot of people talk/think badly of the state of our world, yet most do nothing more than sit on their couch, or rant and rave irrelevantly on message boards.
More people need to direct that energy toward doing something to further the greater good of all mankind. Even if it's just picking up trash at a near-by park.
You don't have to be a billionaire to make a difference.
pleaseit: (( You don't have to be a billionaire to make a difference.)) You are so right with that comment!! If only more people would do little things to make a difference than we could invoke a change!!
jordan11: Great Point, but then where do we send our $10.00? Nature Conservancy is the only one I see doing exactly what they say they do...
eagle eye, i completely agree with you. it's very nice to see rich people giving something back, and i mean REALLY giving something back. what branson's doing should make a huge difference whether his actions have an impact on global warming or not, because it should hopefully make other rich people take some more action. he's like an andrew carnegie.
Here's a brief lesson in capitalism:
A person (or many people via stock sales) start a company. They offer goods or services. They charge more for those than they cost. This creates profit. That profit is:
A) Possibly SHARED with the workers or stockholders
B) RE-INVESTED in large capital goods to produce MORE of whatever they are selling
C) Put in a bank or other monetary reserve to become available (at interest, of course) for OTHER persons or groups of persons to use to help them get THEIR company started or expanded.
I live in Alaska. I'll think I'll take a walk this afternoon by the glacier just to see how of it is gone. Every year it gets smaller. Global warming or warning is pretty real. It's great that a billianaire wants to do something good. And yes, billionaires that give back to the community are better people than those hord it away. Ebenezer Scrooge was still rich at the end of the story but he was a better man.
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I think Branson is so cool. I love his totally casual approach to being a billionaire businessman. When I grow up to be a billionaire, I want to be just like him.
So? Don't consumers all win from this? So what if it *also* helps him?