For the next ten years, Amazon founder Jeff Bezos plans to spend $10 billion on combating climate change.
Jeff gives details about Bezos Earth Fund
Since announcing the Bezos Earth Fund a year ago, Bezos has been tight-lipped about how the money will be distributed. But this week, he provided more details on the fund's size, leadership, structure, and timeline. According to Euro Weekly News, $10 billion will be spent on solving the global climate crisis for the next decade.
Today, March 10, he tweeted, "I want to shift all heavy industry on our planet to space and transform Earth into a garden." As he steps down as Amazon CEO later this year, the world's richest man will be able to channel his efforts towards this huge charitable commitment.
Amazon CEO names Andrew Steer as head of his Earth Fund
Bezos, the founder of Amazon, revealed yesterday that Andrew Steer, the head of the World Resources Institute (WRI) for the past eight years, will be the Bezos Earth Fund's inaugural CEO. Bezos' promise, according to Steer, is to invest the money by 2030, rewarding the same amount each year, implying that the initial sum is just "a start" and that more money will be added to the pot.
Last year, the billionaire established the Bezos Earth Fund, pledging $10 billion to fund scientists, environmentalists, nonprofit organizations, and other institutions working to protect the environment and combat climate change. Bezos said in an Instagram article that Steer has years of experience in environmental and climate science as well as economic and social policy in the US, Europe, Africa, and Asia. Amazon has huge transportation and data center footprint and ships 10 billion items yearly. Its own employees have mocked the e-commerce giant for its environmental impact, Reuters via MSN reported.
Bezos plans to spend $10 billion by 2030
Amazon CEO Jeff Bezos intends to reinvest the $10 billion he put into the Bezos Earth Fund by 2030, according to the fund's current CEO, as per The Independent. None has been disclosed on how the fund will be used to fight the climate crisis after Bezos unveiled it in February 2020.
Steer's decades of expertise in environmental and climate science, as well as his environmental work with the World Resources Institute, which earned a grant from the Earth Fund in November, were cited by Bezos, who revealed plans to step down as Amazon's CEO last month to concentrate on philanthropic and science priorities.