Billionaire George Soros said he plans to invest $1 billion in cleantech in an effort to address climate change, according to a Reuters report.
Speaking at a media event in Copenhagen over the weekend, he also announced the creation of a climate policy initiative that he would fund at $10 million a year over the next decade.
"Global warming is a political problem," Soros said.
In an e-mail statement to Reuters he clarified: "The science is clear, what is less clear is whether world leaders will demonstrate the political will necessary to solve the problem."
He gave few details about his investment plans, stating only that he would apply stringent criteria and look for "profitable opportunities" that "make a real contribution to solving the problem of climate change."
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