Branson pledges $3bn to global initiative

British business mogul Richard Branson today pledged to invest about 3$bn (€2.34m) over the next decade to combat global warming and promote alternative energy, saying that it was critical to protect the environment for the sake of future generations.

Branson, the billionaire behind the multi-platform Virgin brand, said the money would come from 100% of the profits generated by his transportation and airline sectors. It will then be invested in efforts to find renewable, sustainable energy sources in an effort to wean the world off oil and coal.