CMEA Capital announced that it will invest an additional $100m over the next three years in the alternative energy sector as part of its Commitment to Action for the Clinton Global Initiative (CGI).
Following its first commitment to CGI in 2007, CMEA has already invested $100m in green energy companies in less than two years funding companies that have created “much-needed” manufacturing and green collar jobs in the U.S.
Commenting on CMEA Capital commitment, Thomas Baruch, Founder and Managing Director at the San Francisco-based capital management firm, said: “The alternative energy sector is finally ready to take off. For the first time in history, environmentally-friendly methods for producing energy like solar and wind power are becoming inexpensive enough to make mainstream adoption a reality instead of just a pipe dream.
“With the right financing, this sector has the potential to get our economy out of the doldrums by providing millions of new jobs while simultaneously combating our reliance on fossil fuels”.
In the framework of the Clinton Global Initiative (CGI), Commitments to Action are initiatives designed by its members to relieve poverty, support education, the environment and healthcare. Members may develop new business models that generates social, environmental, or economic value or provide financial support to an organization of their choice. Established in 2005 by US President Bill Clinton, the CGI convenes global leaders to plan and implement innovative solutions to the world’s most pressing challenges.