Bill Gates to launch clean energy project on sidelines of Paris climate talks

Microsoft co-founder will announce multi-billion-dollar Initiative Cleantech on opening day of two-week climate summit alongside Barack Obama

Microsoft co-founder Bill Gates will launch a multi-billion-dollar clean energy research and development initiative on Monday, the opening day of the United Nations climate change summit in Paris, it was reported on Friday.

Gates and a group of developing and developed countries will agree to double their research and development budgets to boost clean energy deployment and work collaboratively, according to GreenWire, an energy and climate trade publication which cited government and business officials familiar with the agreement.