January 18, 2008
Google Announces Philanthropic Plans
The Washington Post reports that Google has announced its plans for philanthropy, along with $25 million in grants aimed at addressing climate change as well as poverty and health issues in developing countries. The plans arise out of the company founders' previous pledge to devote about 1 percent of Google's equity and annual profit to humanitarian causes. As described on the company's charitable website, Google plans to pursue five initiatives: developing renewable energy cheaper than coal (RE<C); accelerating the commercialization of plug-in vehicles (RechargeIT); predicting and preventing emerging threats such as infectious disease and climate risk; informing and empowering citizens and communities to improve essential public services; and increasing the flow of risk capital to small and medium-sized businesses in the developing world.
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