American billionaire Bill Gates warns that our grandchildren will inherit a “much worse” world if humanity does not take decisive action against one of the biggest threats it faces – climate change, reports CNBC.

Gates made his new warning in an open letter published on his blog, as he recently learned he will be a grandfather.

“Recently, I began to look at the world in a different light after my oldest daughter gave me the incredible news that I will be a grandfather next year,” he wrote.

Gates’ 26-year-old daughter Jennifer and her husband Niel Nassar are expecting their first child in 2023.

Bill Gates says the response of world leaders to climate change will have a decisive impact on future generations.

“I can summarize the solution to climate change in two sentences: we must eliminate greenhouse gas emissions worldwide by 2050. Extreme weather is already causing more suffering, and if we don’t achieve zero emissions, our children will grow up in a world that is dramatically worse,” he wrote.

But the 67-year-old billionaire admitted that achieving this goal “will be one of the most difficult things that humans have ever done.”

Bill Gates says that capitalism can solve the problem of climate change

“We need to revolutionize the entire physical economy – the way we make things, move, generate electricity, grow food, heat or cool [în clădiri] – in less than three decades,” he emphasized.

Gates, who recently announced that he will retire from the ranks of the world’s richest people after gradually donating his fortune to his philanthropic organization, the Bill & Melinda Gates Foundation, says even his deep pockets can’t solve such a problem.

“Charity cannot eliminate greenhouse gases on its own. Only markets and governments can achieve the necessary pace and scale,” the billionaire claims.

He says that if companies fighting climate change turn out to be profitable, it will encourage other investors to put their money into them.

“Companies need to be profitable in order to grow, continue to operate and prove that there is a market for their products. “The profit motive will attract other innovators, creating competition that will raise the price of zero-emissions inventions and have a significant impact on building emissions,” he says.

But he warned that, unfortunately, in terms of short-term goals, humanity is falling behind them, citing as an example that between 2021 and 2022, the level of global carbon emissions increased by one billion tons.