As the problem intensifies, so do their efforts.
, a global initiative with the sole ambitious goal of making 100 percent of the world’s road transportation—not just passenger cars but also buses, freight trucks, three-wheelers and motorcycles—electric.
But in the past few years, as more people were willing to give big, executives overseeing climate initiatives started to think bigger. Rather than trying to solve a problem slowly and piece-meal, they considered what would be needed to fix the entire thing. “If you shape a strategy at scale to win, it becomes much more logical for a donor to provide funding,” Reid says. “If you are nibbling around the edges, it is not terribly exciting. But if you say, ‘This is what it would take to win.
The number they came up with was more than $2 billion over five years, and they’ve already raised nearly half. “I look at it and say, ‘Wow, this is finally starting to attract donors at scale,’ ” says Reid. “Unless we electrify everything in the economy that can be electrified, we have no chance of hitting our climate goals or coming, frankly, anywhere near them,” he says, citing financial benefits as well: “If we electrify all the machines we use in our day-to-day lives, it will result in the biggest wealth transfer from energy producers to American households in the history of the country.”
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