He might have lost out on the Nobel Peace Prize last year, but Bono's already laying the groundwork for another run at the hardware.

The U2 frontman, Time co-Person of the Year and all-around good guy turned up Thursday at the World Economic Forum in Davos, Switzerland, to unveil a partnership with several big companies that will sell a brand called Red. The label will adorn Armani and Gap clothes, Converse sneakers and even an American Express card, with one percent of the profits earmarked for the Global Fund to Fight AIDS, Tuberculosis and Malaria.

Flanked by Italian fashion designer Giorgio Armani and various suits from the other companies, Bono hailed the private sector for their support and raising awareness at a critical time when governments have been slow to tackle the problem.

"This is really sexy to me. It is sexy to want to change the world," the 45-year-old Irish rocker told reporters.

"I'm calling it conscious commerce for people who are awake, people who think about their spending power and say: 'I've got two jeans I can buy. One I know is made in Africa and is going to make a difference, and the other isn't. What am I going to buy?' "

As noted by Bono, some of the Red products will be manufactured in Africa and others with materials from African countries. The Amex card will initially only be available in Great Britain beginning next month, but will likely expand to other countries.

"We can't do it just with governments alone. We're fighting a fire. The house is burning down. Let's get the water," the How To Disamantle An Atomic Bomb singer told the Associated Press in a separate interview.

The Global Fund has been one of the key philanthropic organizations leading the battle against devastating diseases in the developing world. It has doled out approximately $4.4 billion to 128 countries.

Richard Feachem, Global Fund's executive director, says governments have not stepped up aid and he hopes the Red partnership will "bring a rising income stream [and] increase awareness of HIV in Africa and the role of the Global Fund to finance programs to treat it."

As for Bono, Thursday's announcement is the latest bit of do-gooding to go on his lengthy r?sum?. Last year alone, his dedicated efforts to eliminate debt and promote health care in the Third World earned him a nomination for the Nobel Peace Price and a spot atop Time's Person of the Year list, which he shared with Bill and Melinda Gates. He also was one of the driving forces of the historic Live 8 concerts.

Most recently, he hooked up with Alicia Keys to record a new version of Peter Gabriel's "Don't Give Up," with proceeds of the single going to Keep a Child Alive, an organization providing medicine to families infected with HIV and AIDS.

When asked whether his humanitarian activities ever affected his relationship with U2, Bono admitted that his band mates initially were concerned his activism would negatively impact their music.

"Early on they thought it would completely wipe us out, and wipe me out," he told AP. "They know I'm a fairly far-fetched character. But recently...they feel from our audience a sense that that's what they would like us to be doing.

"I know spiritually they feel as strongly about these issues as I do. They just don't like the high profile and they don't like me hanging out with really uncool politicians."

Not that some uncool politicos are impacting the band's rock cred. Within the past year, U2 was inducted into the Rock and Roll Hall of Fame and saw its Vertigo Tour become the second-highest grossing of all time, grossing $138.9 million from 78 shows. The capper could come Feb. 8, when U2 is up for five Grammys, including Album of the Year. Any wins will extend the boys' record--they already have scored the most Grammys of any rock band with 17.

Next up, Bono revealed that he, the Edge, Adam Clayton and Larry Mullen Jr. were looking to tinker with their sound again, looking to hip-hop for inspiration.

"I happen to be in really a truly great band, and experimentation has been the lifeblood of this band," he said. "We of course will look and are looking across at hip-hop and see the amazing innovation in the studio."

Bono singled out Kanye West, who opened for U2 last year, as an inspiration.

"I don't know where we're going to go with all our new information and all our new friends...but it will be somewhere very special or you won't hear about it, because there's no reason for you to put out an album now unless it's very special," he said.

"You know, we don't need the cash."