Google commits to a greener world with new grants

Google commits to a greener world with new grants


Google is committed to devoting 1% of the company's equity, annual profits and employee time to philanthropic endeavours, the US firm said last week, when Google Inc.’s philanthropic arm announced it was making $26m in new grants and investments.

These will be in organisations and companies devoted to causes that the internet search pioneer believes will help make the world a better place.

The company gave details on 17th January of $25m (£12.7m, €17.1m) of investment in renewable energy and philanthropic projects under its arm, the unit that manages the company’s commitment to devote 1% of equity and 1% of profits to philanthropy.

By far the biggest beneficiary is eSolar, a California company that uses solar heat to generate electricity in utility-grade power plants. is investing $10m.

Other areas in which also is contributing are fighting health and environmental threats, improving public services and supporting small businesses.

These financial commitments are the largest made since the co-founders Larry Page and Sergey Brin launched the company’s philanthropic effort with $90m in 2005.