Bill Gates funds many green energy tech solutions, but he says true climate action really needs this to succeed

""Without a large global carbon tax (which is, unfortunately, politically unachievable), market forces do not properly incentivize the creation of technologies to reduce climate-related emissions," Gates writes. To stop global temperatures from increasing, we need to replace all emissions-emitting activities with affordable alternatives, Gates says. He particularly calls out industrial emissions and aviation as areas that need innovation. And governmental policies-"in rich countries," he notes-are crucial to bringing about that innovation, "because unless innovations reach scale, the costs won't come down and we won't achieve the impact we need.""

""Gates's annual letter comes just a few months after he wrote a blog arguing that the world is too focused on cutting short-term emissions, and that focusing on climate change risks getting in the way of addressing global poverty. That post sparked some backlash from environmental activists and experts who noted that climate and development goals are interconnected. "If you look around the world right now, climate change is directly undermining human development goals, poverty eradication, and health goals," Rachel Cleetus, senior policy director for the climate and energy program at the Union of Concerned Scientists, told Fast Company back in October. In his annual letter, Gates said that, "If we don't limit climate change, it will join poverty and infectious disease in causing enormous suffering, especially for the world's poorest people.""

Market forces alone will not properly incentivize development of technologies needed to reduce climate-related emissions without a large global carbon tax. Replacing all emissions-emitting activities with affordable alternatives is necessary to stop global temperature rise. Industrial emissions and aviation require focused innovation. Governmental policies in wealthy countries are crucial to bring innovations to scale so costs fall and impact is achieved. Excessive focus on cutting short-term emissions can conflict with poverty alleviation, and climate change already undermines development, poverty eradication, and health and will join poverty and infectious disease in causing enormous suffering.

Read at Fast Company