Feeds

Virgin boss pledges readies to greenies

£1.6bn for alternative energy research

Choosing a cloud hosting partner with confidence

Sir Richard Branson has pledged to invest the next 10 years of profits from his Virgin travel firms into developing technologies that will reduce our reliance on fossil fuels. The commitment is apparently worth around £1.6bn over the period.

He made the announcement on day two of the annual Clinton Global Initiative conference in New York.

He explained that the money from his travel companies, such as Virgin Trains and Virgin Atlantic, would be funnelled into a new division of his empire called Virgin Fuels.

Virgin Fuels will invest in research into alternative and renewable energy supplies, such as bio-fuels.

Sir Richard said: "We must rapidly wean ourselves off our dependence on coal and fossil fuels."

He argued that travel firms needed to lead the way in developing "environmentally friendly business strategies".

The move is not entirely altruistic: travel firms are under increasing pressure from environmental lobby groups. Friends of the Earth (FoE), for instance, warns that if the growth in air travel is not curtailed, we face a "climactic disaster".

FoE is one of many groups campaigning for air fuel to be taxed in the same way petrol is. Currently, no duty is payable on kerosene, and in 2005 Tony Blair ruled out imposing any taxes on the fuel.

Against this background, positioning himself as a greenie will do him and his firms no harm. But nor is it entirely spin: Branson has already announced funding for a California based firm that is developing a way of producing ethanol from corn. ®

Security for virtualized datacentres

More from The Register

next story
MEN: For pity's sake SLEEP with LOTS of WOMEN - and avoid Prostate Cancer
And, um, don't sleep with other men. If that's what worries you
Voyager 1 now EIGHTEEN LIGHT HOURS from home
Almost 20 BEEELION kilometres from Sol
Jim Beam me up, Scotty! WHISKY from SPAAACE returns to Earth
They're insured for $1m, before you thirsty folks make plans
ROGUE SAIL BOAT blocks SPACE STATION PODULE blastoff
Er, we think our ISS launch beats your fishing expedition
Comet Siding Spring revealed as flying molehill
Hiding from this space pimple isn't going to do humanity's reputation any good
BAE points electromagnetic projectile at US Army
Railguns for 'Future fighting vehicle'
OK Google, do I have CANCER?
Company talks up pill that would spot developing tumors
LONG ARM of the SAUR: Brachially gifted dino bone conundrum solved
Deinocheirus mirificus was a bit of a knuckle dragger
prev story

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Protecting against web application threats using SSL
SSL encryption can protect server‐to‐server communications, client devices, cloud resources, and other endpoints in order to help prevent the risk of data loss and losing customer trust.