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emissions by 2050. he supports president biden's  decision to rejoin the paris climate agreement but  
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is asking the administration to massively increase  the budget for climate and clean energy research  
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to 35 billion dollars a year you've said  that governments need to do the hard stuff  
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but not just go after the low-hanging  fruit what's low-hanging fruit  
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passenger cars part of the electric generation  with renewables the things everybody knows about  
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that's getting almost all the money not the hard  parts which is the industrial piece including the  
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steel and cement those pieces we've hardly started  to work on no one thinks much about cement and  
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steel but making it accounts for 16 percent of all  carbon dioxide emissions and the demand is only  
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growing the world will add an estimated two and  a half trillion square feet of buildings by 2060  
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that's the equivalent to putting up another new  york city every month for the next 40 years so one  
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innovative company gates has been pouring money  into is carbon cure they inject captured carbon  
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dioxide into concrete what they do is they stick  co2 in here and the cement and they mix them up  
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and so you're able to actually get rid  of some co2 by sticking it in the cement  
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right now they get rid of about five percent but  they have a next generation they can get to 30  
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percent the carbon has been just injected into  this so it's captured it so it's not going to be  
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released into the atmosphere that's right gates  has already invested two billion dollars of his  
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own money on new green technologies and plans  to spend several billion more in 2016 he also  
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recruited jeff bezos mike bloomberg and nearly two  dozen other wealthy investors to back a billion  
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dollar fund called breakthrough energy ventures  making long-term often risky investments in  
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promising technologies it kind of blows my mind  you know what's the cost of making that stuff  
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gates regularly consults with the fund's team  of top scientists and entrepreneurs who've so  
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far invested in 50 companies with cutting-edge  ideas to reduce carbon emissions what's like  
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the most far-flung idea you've backed there's  one that's so crazy it's even hard to describe
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it's so crazy it's hard to describe even yeah  how do you pitch that to investors they find  
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geological formations and they just pump water  down into them the energy they've used uh to  
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pump it in then they can draw that energy back  out so it's it's a water pressure storage thing  
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which you know when i first thought i thought  that can't work but but you gave money to it  
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yeah lots of money because cows account for  around four percent of all greenhouse gases gates  
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has invested in two companies making plant-based  meat substitutes impossible foods and beyond meat  
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but farming the vegetables used to make  many meat alternatives emits gases as well  
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so gates is also backing a company that's  created an entirely new food source  
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this company nature's find is using fungi  and then they turn them into sausage and  
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yogurt pretty amazing when you say fungi do you  mean like a mushroom or a microbe it's a microbe  
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the microbe was discovered in the ground in  a geyser in yellowstone national park without  
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soil or fertilizer it can be grown to produce  this nutritional protein that can then be turned  
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into a variety of foods with a small carbon  footprint this is the yogurt oh this is good  
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wow i've had like cashew yogurt or oat yogurt it's  sort of along those lines yeah with the burgers  
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they're you know like beyond impossible they're  getting close to real thing but you can still tell  
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these i'm not sure i could tell no i'm more  of a burger expert than i am a yogurt gates  
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never planned to focus on climate change but while  working in africa with the foundation he started  
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with his wife melinda in 2000 he came to see just  how vulnerable those in developing countries are  
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to the effects of rising temperatures so 15 years  ago gates started educating himself on climate  
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change bringing scientists and engineers to his  office in seattle for what he calls learning  
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sessions he also reads voraciously books and  binders full of scientific research yeah so  
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this is the most recent one which is about clean  hydrogen so you're reading thousands of pages  
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every few days on topics yeah my reading is is  key and then asking questions when it it doesn't  
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make sense gates isn't just looking to cut future  carbon emissions he's also investing in direct air  
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capture an experimental process to remove existing  co2 from the atmosphere some companies are now  
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using these giant fans to capture co2 directly  out of the air gates has become one of the world's  
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largest funders of this kind of technology but of  all his green investments gates has spent the most  
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time and money pursuing a breakthrough in nuclear  energy arguing it's key to a zero-carbon future  
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he says he's a big believer in wind and solar and  thinks it can one day provide up to 80 percent of  
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the country's electricity but gates insists  unless we discover an effective way to store  
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and ship wind and solar energy nuclear power will  likely have to do the rest energy from nuclear  
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plants can be stored so it's available when the  sun isn't shining and the wind isn't blowing  
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were you always a big proponent of nuclear  in 2008 he founded terrapower a company that  
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has redesigned a nuclear reactor this is your  prototype exactly terrapower's naturing reactor  
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uh this is a rendering we haven't built it  yet but here's the nuclear island right here  
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this is the reactor exactly gate says  terrapower's reactor is less expensive to build  
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produces less waste and is fully automated  reducing the potential for human error gates  
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and director of engineering lindsey boles showed  us what they say is another key to its safety  
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what is it that we're looking at here so these  individual fuel pins are actually where the  
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uranium fuel is and that's what generates all the  heat in our natrium reactor this is what everybody  
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is worried about yes exactly in a normal reactor  it's water that's flowing past and heating up  
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and it'll boil and generate a lot of high pressure  that high heat and pressure can cause an explosion  
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like in chernobyl in 1986 when radioactive  material was spread for thousands of miles but  
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gates says the pteropower reactor won't use water  to cool down the fuel rods they plan to use liquid  
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sodium the liquid sodium can absorb a lot more  heat and so we we don't have any high pressure  
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inside the reactor in october the department of  energy awarded terror power 80 million dollars to  
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build one of the first advanced nuclear reactors  in the u.s nuclear power can be done in a way that  
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none of those uh failures of the past would  recur because just the physics of how it's built  
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i admit convincing people of that will be  almost as hard as actually building it but  
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since it may be necessary to avoid climate change  we shouldn't give up you've been criticized for  
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being a technocrat saying technology is the only  solution for for tackling climate change there  
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are other people say look the solution's already  there it's just government policy is what really  
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needs to be focused on i wish that was true i  wish all this funding of these companies wasn't  
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necessary at all without innovation we will not  solve climate change we won't even come close  
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gates credits young activists for keeping  climate change in the headlines but he knows some  
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consider him an imperfect ally are you the right  messenger on this because you fly private planes  
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a lot and you're creating a lot of greenhouse  gases yourself yeah i'd probably have one of  
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the highest greenhouse gas footprints  of anyone on the planet you know my my  
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personal flying uh alone is gigantic now i'm  spending quite a bit uh to buy aviation fuel  
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uh that was made with plants you know i switched  to an electric car i've used solar panels  
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i'm paying a company that actually at a very high  price can pull a bit of carbon out of the air  
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and stick it underground and so i'm offsetting  my personal emissions those are called carbon  
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offsets right so you know it's costing like 400 a  ton it's like 7 million dollars so you're paying 7  
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million a year to offset your carbon footprint yep  he's encouraging others who can afford it to buy  
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carbon offsets and green products so that what he  calls the green premium the added production costs  
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for reducing carbon emissions will go down and  quality of products up driving the innovations  
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that may get us to zero it just seems overwhelming  if every aspect of our daily life has to change it  
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can seem overwhelming but you are optimistic yeah  there are days when it looks very hard if people  
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think it's easy they're wrong if people think  it's impossible they're wrong it's possible it's  
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possible but it'll be the most amazing thing  mankind has ever done that's what it has to  
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be yeah it's an all-out effort you know like a  world war but it's us against greenhouse gases
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bill gates advice on how to  combat mistrust in science  
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at 60 minutesovertime.com sponsored by pfizer
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sixty minutes rewind it's been quite a
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week for Arkansas Governor Bill Clinton
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on Monday his picture was on the cover
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of Time magazine anointed by the press