Tuesday, July 01, 2008

Some money for the environment

There were a couple of stories in the news today about large sums of money being made available to help the environment.

First: the World Bank agreed to set up two investment funds (Clean Energy Fund and Strategic Climate Fund).

"The G8 is likely to broadly support the establishment of the climate investment funds," Warren Evans, director of the World Bank's environment department, told reporters.

He said the World Bank was counting on an initial $4 billion to $5 billion in donations by G8 nations for the Clean Technology Fund, adding that media reports that $10 billion would be raised for the fund "are on the high side".

Source: http://www.reuters.com/article/environmentNews/idUSN0131191820080701

Second: Gerhard Andlinger (chairman and founder of the investment company Andlinger & Co. ) donated $100 million to Princeton University to create a center for energy and the environment.

Source: http://www.bloomberg.com/apps/news?pid=20601103&sid=azWcHx7jec.0&refer=us

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