Cleantech hits the jackpot: George Soros to invest $1 billion in green energy


Billionaire philanthropist George Soros has thrown his hat into the green-investment ring, pledging to spend $1 billion on clean energy. The 29th richest man in the world with a net worth of about $11 billion, Soros suggested he is interested in investing in technologies that are profitable and that are effective in reducing global climate change. "I want to apply rather stringent criteria to the investments," Soros said in a speech in Denmark on Saturday.

If he is true to his word, however, his investment would seem to rule out a technology into which he has already invested -- carbon capture and sequestration, which has been shown to be riotously expensive and dubiously effective, as in this recent post.