Google announced plans yesterday to fulfill their pledge to reserve one percent of its profit and equity to “make the world a better place.” Plans to spend $175 million in grants and investments are outlined at Google.org or DotOrg to insiders. Google employees are encouraged to contribute to the foundation and spend time on charitable works.

The director of Google.org is Dr. Larry Brilliant, a medical doctor that played a major role in eradicating smallpox. One of the first beneficiaries of this money is an organization called Instedd (Innovative Support to Emergencies, Diseases and Disasters) that Dr. Brilliant helped set up. The group aims to improve data communications networks with a $5 million grant (there’s got to be a mapping component here). The philanthropy is also going toward renewable energy sources, with a $10 million grant to eSolar.

The New York Times has a more detailed report on this development.

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