You know the green movement has hit the big time when flashy investors start getting involved. Earlier today we learned that George Soros is investing $1 billion in clean energy, and now comes word that the Carbon War Room, a so-called "philanthropic initiative" started by SunEdison founder Jigar Shah and financially backed by Richard Branson, is pushing for ships to lower their carbon footprints.
More specifically, the initiative mandatory emissions cuts enacted in the U.S. and EU, with the ultimate goal of cutting ship emissions by 20% on working vessels and 35% for ships built in 2012 and after. The Carbon War Room is also gunning for a mandatory provision for exhaust gas cleaning technology, which could cut over 80% of particulate matter and black carbon from ships emissions.
If the organization succeeds, it could mean a big success in the fight against climate change—the shipping industry is responsible for 3% of all CO2 emissions. The Carbon War Room's success might also signal a turn from grassroots environmentalism toward the beginning of an era of driven by wealthy entrepreneurs. As the Carbon War Room's Web site notes, "entrepreneurial spirit solves many of the world's seemingly intractable problems, and the problems of climate change will be no exception."
[Via Green Inc]