Commercial, GHG Emissions  -  February 18, 2020

Jeff Bezos commits $10 billion to fight climate change

The richest man in the world, Amazon CEO Jeff Bezos, announced Feb. 17 through an Instagram post his newest philanthropic initiative: the $10 billion Bezos Earth Fund.

This fund from Bezos’ fortune will be donated in the form of grants starting this summer to science groups, activists, NGOs or another branch undergoing work to fight climate change, according to his Instagram post. The New York Times reported that the new fund will provide donations to these causes rather than make investments that Bezos will then profit from. Additionally, the fund will not be connected to Amazon in any way.

“Climate change is the biggest threat to our planet,” Bezos stated. “I want to work alongside others both to amplify known ways and to explore new ways of fighting the devastating impact of climate change on this planet we all share. We can save Earth. It’s going to take collective action from big companies, small companies, nation states, global organizations, and individuals.”

The move follows the Climate Pledge that Amazon released in September, stating that the company would be carbon-neutral by 2040.

Despite a lack of philanthropic history, this will be Bezos’ largest donation, following a $2 billion donation made in September 2018 to help homeless families and build a network of Montessori preschools, The New York Times reported. The publication also reported that this is one of the largest known commitments made by an individual.

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