They realize that if we don't solve this problem then no other problem matters.

Bill Gates, Mark Zuckerberg, Richard Branson, Jeff Bezos, and pretty much every other crazy rich tech leader you can imagine have announced that they’re banding together to combat climate change with a new partnership called the Breakthrough Energy Coalition. Their timing couldn’t be better—or more telling.

Through the partnership, the group’s members have committed to use a substantial portion of their hundreds of billions of dollars in collective net worth to invest in early stage clean energy companies. 

Zuckerberg wrote a Facebook post Sunday night announcing the partnership, complete with a photo of WIRED’s 2010 cover shoot of Zuckerberg and Gates. In the post, Zuckerberg framed clean energy as foundational to solving so many of the world’s other problems. “Solving the clean energy problem is an essential part of building a better world,” he wrote. “We won’t be able to make meaningful progress on other challenges—like educating or connecting the world—without secure energy and a stable climate.”

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There’s no word yet on just how much the members of the coalition—which also include Jack Ma, Meg Whitman, George Soros, and billionaire environmentalist Tom Steyer—plan to invest. But they say they will fund startups in a range of industries, from agriculture to transportation to electricity storage. They’ll also focus the investments on the countries that are part of Mission Innovation—a consortium of 20 countries, including the US, that have committed to doubling their investment in clean energy over the next five years.

Interesting that they think startups are the solution, instead of spending money on policy.