The capitalist system “will fundamentally be in jeopardy” due to climate change, Microsoft CEO Satya Nadella told MadMoneyOnCNBC's JimCramer.
Speaking from a stage at Microsofts headquarters in Redmond, Washington, Chief Executive Satya Nadella said that corporations need to create profitable solutions for the problems of both people and planet.
If the last decade has taught us anything, its that technology built without these principles can do more harm than good, he said. We must begin to offset the damaging effects of climate change, he said, adding if global temperatures continue to rise unabated the results will be devastating. The effort "will require technology by 2030 that doesn't fully exist today," Microsoft President Brad Smith said.
Microsoft's goal to have removed enough carbon by 2050 to account for all its emissions since its founding in 1975 encompasses direct emissions from sources such as company vehicles and indirect emissions from electricity use, it said.
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