$50m climate change fund launched by US businessman Tom Steyer

Image copyright Getty Images Image caption Billionaires Glencore chairman Marc Rich and film director Michael Douglas got backing for their environmental causes

Want to know more about how some of the world’s richest people are fighting climate change?

US billionaire, investor and hedge fund manager Tom Steyer has just announced that he is setting up a $50m (£35m) fund to tackle the threat of climate change in the US.

And there’s support for him too in Britain – columnist George Monbiot says Mr Steyer is “to be commended”.

Mr Steyer is reported to be worth more than $1.3bn.

Mr Monbiot says: “In the US, the fossil fuel lobby is enormous and powerful – but there is also political will to move away from fossil fuels, and the money is not yet in the wrong place.”

The British columnist also praised Australian billionaire, businessman and philanthropist Bill Gates, who runs the Bill and Melinda Gates Foundation.

“He too is contributing significantly,” Mr Monbiot says.

He is among those who praised Prime Minister Benjamin Netanyahu of Israel who said he would use his assets “to convince my fellow citizens of the world that they can afford to protect the environment”.

The UK’s wealthiest self-made man, Harrods boss Mohamed Al-Fayed , was recently accused of using his business holdings to fund a private zoo.

And French oil giant Total has faced criticism over the annual salaries of their top executives.

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