LONDON, March 18 (Reuters) – A new initiative aims to help finance renewable energy across the world by asking companies to donate 0.1% of their revenue, in turn drawing in billions of dollars from other investors, its founder told Reuters.
Point One, launched on Wednesday with an initial 30 businesses, aims to raise at least $200 million by 2030 and use that to attract as much as $3 billion from institutional investors.
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By setting the revenue contribution at a low level, the initiative hopes more companies will sign on:
Companies pledge 0.1% of revenues for global renewables buildout
