Visiting an Eko financial services shop in the suburb of
Uttam Nagar with my dad (Delhi, India, 2008).
There are a lot of important topics I didn’t get around to in this letter. One area that I have been spending a lot of personal time on is energy and its effect on climate. The most important innovation required to avoid climate change will be a way of producing electricity that is cheaper than coal and that emits no greenhouse gases. There will be a huge market for this, and governments should supply large amounts of funding for basic R&D. Because the foundation invests in areas where there is not a big market, I have not yet seen a way that we can play a unique role here, but I am investing in several ideas outside the foundation. I am surprised that the climate debate hasn’t focused more on encouraging R&D since it is critical to getting to zero emissions. Still, I think it is likely that out of the many possible approaches, at least one scalable innovation will emerge in the next 20 years and be installed widely in the 20 years after that.
I have decided to take the notes I make after taking a trip, reading a book, or meeting with someone interesting and pull them together on a web site called www.gatesnotes.com. This will let me share thoughts on foundation-related topics and other areas on a regular basis. I expect to write about tuberculosis, U.S. state budgets, creative capitalism, and philanthropy in Asia, among other things. The trips I will document will include Nigeria, to check on the status of polio eradication; northern India, to understand more about improving vaccine coverage; and school visits in the United States. The site will complement my annual letters as well as the foundation’s web site, www.gatesfoundation.org, which has a lot more information about the topics in this letter.
My job is fun and interesting because of the great people I get to work with. Besides Melinda this includes our other co-chair—my dad. He is a tireless champion of making sure we keep listening to the people we want to serve and not letting our size get in the way of that.
Jeff Raikes, CEO of the foundation, is doing an excellent job evolving how we run, making sure we hire great people, and creating an environment where they can do their best work. And I am always impressed with the dedication and in-depth knowledge of the foundation team, starting with the division presidents—Tachi Yamada,
Sylvia Burwell, and
Allan Golston. I feel very lucky to get to work with all of them.
Bill Gates
Co-chair, Bill & Melinda Gates Foundation
January 2010