‘Rebel Billionaire’ Establishes $25-Million Prize to Fight Global Warming

The British billionaire Richard Branson today announced he would award $25-million to the first person or organization that develops a plan to remove a billion tons of carbon dioxide a year from the Earth’s atmosphere as a way to curb global climate change, reports The Washington Post.

The winner would receive $5-million after a workable plan is developed, while the rest of the money would be awarded once the carbon-dioxide-removal program has worked successfully for 10 years.

This is the second large pledge Mr. Branson, founder of the Virgin corporate conglomerate, has made recently to fight global warming. In September, he promised to provide an estimated $3-billion of his personal funds over 10 years to develop alternative energy sources.

Read The Chronicle article about Mr. Branson’s $3-billion pledge.

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