The Pan Am Historical Foundation recently awarded its Clipper Heritage Award to Sir Richard Branson, Founder and Chairman of the Virgin Group Ltd., for his environmental initiatives.

The award honors Sir Richard's "significant contribution to Humanity involving aviation and exemplifying the vision, innovation and adventure that was Pan American World Airways." And recognizes "his unique initiatives as an airline owner to meet the challenge of global warming and minimize the environmental impact of his businesses."

"Sir Richard has committed profits from the transport companies (airlines and trains) of his Virgin Group, estimated at $3 billion over the next 10 years, to renewable energy initiatives to combat global warming."

"In addition, he has launched the Virgin Earth Challenge, offering a prize of $25 million for a commercially viable design which results in the net removal of greenhouse gases from the atmosphere each year for at least 10 years, so as to help stabilize the Earth's climate"