Published: Tue, February 18, 2020
Markets | By Otis Pena

Jeff Bezos Will Attack Climate Change With His Own $10 Billion

Jeff Bezos Will Attack Climate Change With His Own $10 Billion

Amazon CEO Jeff Bezos announced on Instagram the launch of the 'Bezos Earth Fund, ' committing to $10 billion "to start", with a promise to begin issuing grants in the summer.

In 2018, he started another fund, committing 2 billion U.S. dollars (£1.5 billion) of his own money to open preschools in low-income neighbourhoods and give money to nonprofits that help homeless families.

In his post, Bezos said the money would help finance advancements in science and supplement activist work through grants.

The richest man in the world, Bezos has an estimated net worth of $129.9 billion, so his $10 billion pledge is about 7.7% of that.

Amazon boss Bezos has announced he is committing US$10 billion to a new fund to fight climate change.

Observers recently accused Bezos of being stingy after he donated $690,000 toward relief efforts related to devastating wild fires in Australia (which experts link to climate change).

Bezos said in the post Monday that he will call his new initiative the Bezos Earth Fund.

Writing on his Instagram account, Mr Bezos said the fund would begin distributing money this summer.

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He also informed the envoys about the local employment scheme and recruitment drive run by the Army. After this, the members went to the hotel back there they are meeting various delegations.

"We can save Earth", Bezos said. It's going to take collective action from big companies, small companies, nation states, global organisations, and individuals.

⁣⁣⁣"Climate change is the biggest threat to our planet".

"When is Amazon going to stop helping oil & gas companies ravage Earth with still more oil and gas wells?"

According to CNBC, Amazon Employees for Climate Justice issued a statement about the new program.

Those protests took place after Bezos announced the company will attempt to become carbon neutral by 2040, a target which climate activists think should be accelerated to 2030.

He also announced his intention to buy 100,000 electric delivery vehicles from United States vehicle design and manufacturing company Rivian Automotive LLC.

The world's second wealthiest person, Bill Gates, who Forbes says trails Bezos by $14.5 billion, is also making the climate crisis a philanthropic priority.

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