Gates, also a renowned climate expert because he is selling a book about it, will be the keynote speaker at the virtual summit which begins on Thursday and will be attended by French President Emmanuel Macron and British Prime Minister Boris Johnson.

Gates will reportedly talk about "Innovation in clean energy" and "industries that have yet to be created".

The announcement comes as Democrats reintroduced their revamped 'green new deal', which seeks to plough hundreds of billions of dollars into so called 'green' initiatives in an effort to transition to a 100 percent carbon free-economy, as well as meeting 100 percent of power demand from zero-emission energy sources like wind and solar.

Critics have warned that it will collapse an already stretched economy while handing government total control over all aspects of society.

Senator Rand Paul also noted that the initiative lays out plans to form a Civilian Climate Corps youth army that will be trained to follow government mandates.