Bill Gates, speaking at the World Economic Forum on Wednesday, advocated for aggressive carbon price implementation to drive middle-income countries to radically restructure their whole economic sectors.
“The rich countries have to play a central role, both funding RND and having policies,” Bill Gates said, adding that “in some cases carbon taxes will be used to drive the demand for these clean products.”
“Only by doing that in an aggressive way will the economic costs be brought down enough that we can turn to all the middle-income countries and say ‘OK, change your whole cement industry, change your whole steel industry,” he continued.
Gates remarked, “The number of companies working on these things is very exciting”. “Some of them will fail, a lot of them will fail,” he continued, but added, “we only need a reasonable number, a few dozen of them to make it through and that’s what we have to accelerate.”