George Soros, the billionaire philanthropist and hedge-fund manager, announced plans to donate $100-million to create a climate-change advisory group for politicians and policymakers, Bloomberg reports.

The Climate Policy Initiative “will be part advisory service, part policy developer, and part watchdog,” said Thomas Heller, the Stanford University law professor and expert on energy and environmental law who will head the organization.

Along with giving $10-million annually for 10 years to the policy group, Mr. Soros plans to invest $1-billion in developing clean-energy technologies. The recipients “should be profitable but should also actually make a contribution to solving the problem,” he said.