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Publish Date : 13-Feb-2015

In a bid to manage climate change-related challenges, and boost carbon-efficient energy technology, the White House on Tuesday has made an announcement targeting $2 billion worth of private sector investments. Issuing a fact sheet on Tuesday, the White House has disclosed that the move is intended for increasing investments in clean energy space further. The White House fact sheet added, "Today’s announcements will help clean energy investors reduce transaction costs, spread promising investment models, and increase their climate mitigation impact."

The private sector contributions worth $2 billion will be channelized to cut cost, enhance carbon-friendly energy technology, and improve efficiencies across the solar, wind, and energy fields.
The University of California Board of Regents has pledged for half of the aforesaid amount to be spent to develop climate change solutions and to promote vehicles powered by green energy technologies.

Wells Fargo will also offer environmental grants worth $100 million through 2020 to improve energy efficiency in commercial buildings.
The investment commitments from private sector arrive as President Obama called for $4 billion under his 2016 budget to facilitate states to get ready for his planned carbon pollution regulation on operational power generating facilities.

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