Tuesday, December 1, 2015
The Californians associated with the historic clean energy venture fund announced by Bill Gates at the Paris climate conference on Monday are, in many ways, the usual public-spirited suspects – Tom Steyer, Mark Benioff, Reid Hofman, Mark Zuckerberg. One participant, however, is a standout. The University of California is the multibillion-dollar fund’s sole institutional investor, at least for the moment. That’s something for Californians to be proud of, but long term, it’s also a concern... (I)t’s not surprising that UC’s chief investment officer, Jagdeep Singh Baccher, jumped at the chance when the Indian auto and steel mogul Ratan Tata told him about Gates’ plan for a global clean energy R&D fund... In a telephone briefing on Monday, Gates said UC was the only institutional investor the group had invited, and said the university would be tasked with drawing others in as the fund takes shape...
Full editorial at http://www.sacbee.com/opinion/editorials/article47210520.html