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Amazon's CEO commits USD 10bn to fight climate change

Solar park. Image by: Amazon Web Services (aws.amazon.com).

February 18 (Renewables Now) - Jeff Bezos, the founder and CEO of Amazon.com Inc (NASDAQ:AMZN), on Monday pledged to provide USD 10 billion (EUR 9.23bn) for a new fund that will be set up to combat climate change.

The world’s richest person made the announcement in an Instagram post on Monday, committing to support “any effort that offers a real possibility to help preserve the natural world.” The money will be distributed to support scientists, activists and non-governmental organisations (NGOs) and will back known initiatives for tackling climate change, as well as promote the exploration of new options to address the global issue.

The Bezos Earth Fund, as it is called, will start with allocating grants this summer. No details were given about the specific funding rounds at this point.

“It’s going to take collective action from big companies, small companies, nation states, global organizations, and individuals,” Bezos said.

E-commerce giant Amazon set a goal in 2019 to reach 100% renewable power by 2030 and achieve net-zero carbon emissions across its operations by 2040. The company became the first business to sign The Climate Pledge initiative that calls for companies to commit to net-zero annual carbon emissions by 2040.

Last year's announcement followed an open letter from thousands of Amazon employees who urged Bezos and the company’s board to prioritise climate action plans that would cover not only all of the company’s businesses, but also the supply chain.

(USD 1.0 = EUR 0.923)

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Today, I’m thrilled to announce I am launching the Bezos Earth Fund.⁣⁣⁣ ⁣⁣⁣ Climate change is the biggest threat to our planet. 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. This global initiative will fund scientists, activists, NGOs — any effort that offers a real possibility to help preserve and protect the natural world. We can save Earth. It’s going to take collective action from big companies, small companies, nation states, global organizations, and individuals. ⁣⁣⁣ ⁣⁣⁣ I’m committing $10 billion to start and will begin issuing grants this summer. Earth is the one thing we all have in common — let’s protect it, together.⁣⁣⁣ ⁣⁣⁣ - Jeff

A post shared by Jeff Bezos (@jeffbezos) on

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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