The Breakthrough Energy Coalition, an investment fund led by Gates, aims to lead private sector development of important new and profitable technologies for reducing global emissions from fossil fuels to zero before the end of the century. Yes, this is an impressive and commendable goal. But let’s not lose sight of an equally miraculous change: mobilizing the private sector to invest in decarbonization at scale using the proven technologies we have available now. Institutional investors have a pivotal role in bringing about this change.
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