While George Bush fantasizes about breakthroughs and technologies that might "help us confront the serious challenge of global climate change," Sir Richard Branson is actually doing something to encourage and reward scientists who can figure out how to pull CO2 from the atmosphere: he's putting his money where his mouth is.

In Friday's press release announcing  the $25 million Virgin Earth Challenge, Branson had this to say:

We all now know that something radical has got to be done to turn back the tide of global warming.  By launching the $25 million Virgin Earth Challenge, the largest ever science and technology prize to be offered in history, we want to encourage scientists and individuals from around the world to come up with a way of removing lethal carbon dioxide from the earth’s atmosphere.  By competing for this prize they will follow in the footsteps of many of history’s greatest inventors and innovators.  But in this case potentially save the planet. It is our hope and belief that the winner of The Virgin Earth Challenge will help to reverse the collision course our beautiful world is currently on.  They will not only make history but preserve history for many, many generations to come.

Branson added one caution to his otherwise fantastic vision:

However, it is important to remember that there is a real possibility that no one will win this prize.  Governments, and their people, must continue to use every effort to radically reduce CO2 emissions.

Branson was joined at the announcement by Al Gore, who will be one of five judges to help Branson pick a winner. Initially, $5 million will be awarded to the winning scientist(s), with the remaining $20 million to be awarded once the idea proves successful for a period of 10 years.

This isn't Branson's first high profile venture on the climate change front. Last September, the brash eco-entrepreneur announced Virgin Fuels, a $3 billion commitment to combat global warming. The first phase of Virgin Fuels pledges $400 million over the next three years to various renewable energy projects around the world.

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