Tesla Inc CEO and billionaire entrepreneur Elon Musk on Thursday took on to Twitter to announce that he will donate a $100 million prize for development of the “best” technology to capture carbon dioxide emissions. This move is towards encouraging more innovative and efficient carbon capture technologies.

Recently he became the richest man in the world with more than $200 billion in net worth for a brief period of time. People started wondering what he would be using all this money on as they already know he is not obsessed with owning possession.

Earlier this month he turned to his Twitter followers for advice on how to best give away his money. “Critical feedback is always super appreciated, as well as ways to donate money that really make a difference (way harder than it seems),” his tweet read.

Also with growing technology, the planet is becoming more polluted with carbon trapping inside the atmosphere. Capturing planet-warming emissions is becoming a critical part of many plans to keep climate change in check, but very little progress has been made on the technology to date, with efforts focused on cutting emissions rather than taking carbon out of the air.

Considering this, The International Energy Agency said late last year that a sharp rise in the deployment of carbon capture technology was needed if countries are to meet net-zero emissions targets set according to the Kyoto Protocol.

Keeping in mind the need of the hour, even the newly-sworn U.S. President Joe Biden has pledged to accelerate the development of carbon capture technology as part of his sweeping plan to tackle climate change.

Musk’s announcement is just another push for the world to go in right direction for saving itself.

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