WASHINGTON (AP) — President Barack Obama is setting a goal of raising $2 billion from the private sector for investments in clean energy.
The White House says it’s launching a Clean Energy Investment Initiative as part of the Obama administration’s effort to address climate change.READ MORE: Distraction Brewing Company, Local Artists Team Up To Support Charity
The Energy Department will solicit investments from philanthropists and investors concerned about climate change. The aim is to spur development of technologies and energy sources that are low in carbon dioxide pollution, such as solar panels, wind power, fuel cells and advanced batteries.READ MORE: Nor'easter To Bring Up To 2 Feet Of Snow And Possibly Blizzard Conditions Saturday
The White House says groups like Wells Fargo, the University of California Board of Regents, and the William and Flora Hewlett Foundation are committing to scale up their investments in clean energy.
The White House will also host a Clean Energy Investment Summit this spring.MORE NEWS: 'Long Overdue': Peabody, Sudbury Plow Drivers Preparing For Saturday's Nor'easter
Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.