'Nobody is going as fast as they can on renewables', says Bill Gates

The co-founder of Microsoft, Bill Gates, has said no country is going as fast as it can on developing and innovating renewable energy solutions to the climate crisis.

Gates was speaking at the third edition of the French finance ministry's 'Rendez-vous de Bercy' event, which is held every two years to address different issues related to the French, European and world economy.

‌The first two editions of the event in 2017 and 2019 focused respectively on technological disruptions and inequalities and redefining capitalism in the 21st century.

‌The third edition on Tuesday was devoted to environmental issues and economic growth in the face of climate change. Gates told the summit in Paris that "we are behind on our short-term goals" in dealing globally with climate change. "Rich countries owe it to the world to keep costs low for green technology," he said.

The philanthropist sounded a more positive note when he spoke about the ongoing COP28 global climate summit, which is continuing in the United Arab Emirates until December 12. He said there was much more focus on innovation this year than at past meetings.

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In his remarks to the Paris conference, Gates argued that artificial intelligence was helping the agriculture sectors in developing countries in providing better weather forecasts and analysis on crops and climate.‌ The theme of the 2023 event was 'Growth and Climate.' It was hosted by French finance and economy minister, Bruno Le Maire.

Le Maire warned that the change to green economic models was a "very costly transition" that costs the French government between $64-75 billion every year.

‌He said that the private sector should bear more of the costs associated with environmental policies and also use climate change as an opportunity to innovate and develop new technologies to reduce emissions and pollution and increase protection of biodiversity.

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