Bill Clinton to launch $1bn climate fund with Israeli tech mogul

WASHINGTON: Former U.S. President Bill Clinton will chair the advisory board of a massive new fund aimed at putting cash into technology to tackle the climate crisis. The announcement came during the Clinton Global Initiative 2023 meeting, foreign media reported.

The fund, which has about $1 billion in startup capital, is to be led by Ziv Aviram, an Israeli billionaire who founded the autonomous vehicle tech company Mobileye and Or-Cam, which makes reading devices for visually impaired people. “Of the many challenges we face, there is perhaps none which requires our collective action as urgently as climate change,” Clinton said, according to a press release. “This exciting new climate tech fund has the potential to unlock revolutionary solutions to this existential challenge.”

The fund will be called EcoBridge Impact; along with the former president, the advisory board will include two other members of the Clinton Global Initiative. “The intersection of innovation and climate action is where true transformation occurs,” Aviram said. “We’re not just investing in technologies; we’re investing in a better world. Our choices today will shape the legacy we leave for generations to come.”