Richard Branson has announced a $3bn investment in biofuels in an effort to fight climate change.
The investment will be made through a new venture, Virgin Fuels. The man is a genius, he can’t lose!
The State of California has just launched a law suit against major car companies over climate change and the oil market is volatile, not to say finite. Biofuels are a renewable source of energy and can be grown by or for the company that produces it. Biofuel is cheaper than oil-based products and cleaner to make. A large percentage of the Virgin empire is transport-related and cheap fuel will improve the profitability of those businesses. On top of that, I expect that Virgin Fuels will retain the patent on new technologies they develop meaning that they can rake the cash in from selling the technology to other people.
For a dyslexic Noel-Edmonds lookalike he’s not to shabby when it comes to business.
This is one of the biggest news stories of the year and it is not being reported on the main UK TV or radio stations.
What is wrong with the UK media???
Well done Richard Branson.
David Roe
It is easy to complain, to propose real alternatives is more challenging.
The recognised principles for sustainable development are evident in the proposals of the Branson Corporations. To be sustainable three elements must be in place with similar strengths, Social, Environmental and Financial. The environmental element is obvious, the social element can be expected from a responsible employer who is funding a venture that is at least supportive to rural economies around the world, and financially it has to pay to be sustainable.
Branson’s example needs more work, yet seems to me to be streets ahead of many trans-national corporations. PR can be a good first step.
There is much more to do, and quickly if the benign global climate is not to become a luxury that is only memory. How long before global governments unite to requires the polluters to pay for the remedy. For example, the fossil fuel industries and users paying a carbon penalty to protect and restore rain forests or pay the real costs of developing the alternative technologies and behaviours that are required to halt climate change.
Current wisdom indicates that there is too little happening too slowly.