Jeff Bezos To Spend $10 Billion On Climate Change From His Earth Fund By 2030

When it comes to the impact companies have on the environment, e-commerce giant, Amazon, surely is one of the many that¡¯s leaving a giant carbon footprint.

Reuters

Whether it¡¯s shipping products from an aircraft to make the one-day delivery rush on time, or the massive fleet of vehicles on the ground to make deliveries or even the amount of waste generated through packaging, Amazon isn¡¯t the greenest in its operations.

However, Jeff Bezos looks like he wants to reduce this impact and recently announced Bezos Earth Fund last year in February, worth $10 billion that will be awarded to scientists, NGOs who are working to fight climate change.

However, ever since this fund was announced, not many details were given (mostly due to the pandemic hitting the brakes for many operations). However, now there have been some advancements in this area.

Andrew Steer was named as the fund¡¯s CEO on Tuesday, who gave us a glimpse of how this fund will be utilised while also revealing that Bezos¡¯s goal is to utilise the $10 billion before the year 2030, which would be around more than $1 billion a year.

Andrew Steer/Twitter

Steer tweeted, ¡°The Earth Fund will invest in scientists, NGOs, activists, and the private sector to help drive new technologies, investments, policy change and behaviour. We will emphasize social justice, as climate change disproportionately hurts poor and marginalized communities."

Steer has also been the president and CEO of the environmental nonprofit the World Resources Institute before becoming Bezos¡¯s Earth Fund¡¯s president and CEO.

Steer expressed that he was ¡°incredibly fortunate¡± to be a part of the fund, "I will focus on driving systemic change to address the climate and nature crises, with a focus on people. Too many of the most creative initiatives suffer for a lack of finance, risk management or the right partnerships. This is where the Earth Fund will be helpful."

Reuters

Bezos said in a statement on Instagram, ¡°Lauren and I are thrilled to have Andrew aboard and very energized about what lies ahead for the Fund and our partners."

What do you think about Jeff Bezos' Earth Fund spending $10 billion over the next 10 years to reverse climate change? Let us know in the comments below...