MSNBC reports that today in New York at the Clinton Global Initiative, a conference focused on the world's economic, health and energy issues, Richard Branson pledged to commit all the profits from his transportation businesses over 10 years, estimated at about $3 billion, to fight global warming.
The funds will primarily be directed towards the research and development of renewable energy sources as Branson noted a specific interest in cellulose ethanol. At a news conference he said, "We are very pleased today to be making a commitment to invest 100 percent of all future proceeds to the Virgin Group from our transportation interest, both our trains and airline businesses, into tackling global warming."[Source: MSNBC - Via AutoBlogger]