Posted on September 22, 2006

print  e-mail

Clinton Global Initiative Announces $5 Billion in Pledges

Appearing with former President Bill Clinton on day two of the Clinton Global Initiative, Richard Branson, CEO of the Virgin Group, has announced that his company will pledge an estimated $3 billion toward bio-fuel initiatives to combat global warming.

Over the next ten years, the Virgin Group will invest all future profits from its airline and train businesses in renewable initiatives within the company, as well as make further investments in new bio-fuel research and development, production, and distribution projects to battle emissions related to global warming. With Virgin's pledge, more than $5 billion has been committed during the first two days of the annual confab to combat energy and climate change, mitigate religious and ethnic conflict, alleviate poverty, and address global health problems — roughly double the amount pledged during the conference in 2005.

At a plenary session on Wednesday, Clinton had announced the first five commitments, including a $16.4 million pledge presented by First Lady Laura Bush — a combined gift from U.S. government agencies and the Case and MCJ foundations — that will provide thousands of sub-Saharan African citizens with safe, clean drinking water.

"We know that there's a lot of work to do around the world, and a lot of good to do in fundamentally different ways," said Clinton. "That's why it's hard to overstate the importance of individuals taking action in whatever way they can."

For a complete list of CGI donors and their commitments, visit the CGI Web site.

“CGI Day One Total: 107 Commitments, Over $2 Billion.” Clinton Global Initiative Press Release 9/20/06.

“Clinton Global Initiative Surpasses Previous Year's Total — $5.7 Billion and Growing.” Clinton Foundation Press Release 9/21/06.

Primary Subject: Environment
Secondary Subject(s): International Affairs/Development
Location(s): International

FC009516