Earth Fund: Jeff Bezos plans to spend $10 billion to tackle climate change

Amazon CEO Jeff Bezos plans to spend $10 billion in the next 10 years to tackle climate change. According to Dr. Andrew Steer, who has been named the first President of Bezos Earth Fund, the Amazon founder’s plan is to spend $10 billion by between now and 2030, the time by which the sustainable development goals must be achieved. Steer extended his gratitude to Jeff Bezos for inviting him to join the Earth Fund. 

'Will focus on social justice' 

Steer said if the $10 billion is allocated wisely, it holds the potential to bring transformative changes in the next 10 years. Steer said that the “Earth Fund will invest in scientists, NGOs, activists, and private players to help drive new technologies, investments,  policy changes, and behaviour”. Steer added that the fund will focus on “social justice” as climate change has affected marginalized communities the most. 

“We’re excited to announce that Dr. Andrew Steer has agreed to lead the Bezos Earth Fund as President and CEO. Andrew has decades of experience in environmental and climate science as well as economic and social policy in the U.S., Europe, Asia, and Africa. Most recently, he has been President and CEO of World Resources Institute, where he leads over 1,400 experts working to alleviate poverty while protecting the natural world. Lauren and I are thrilled to have Andrew aboard and very energized about what lies ahead for the Fund and our partners,” Bezos announced in an Instagram

.

Bezos, who recently announced his plans to step down as Amazon CEO, had set up the Earth Fund to combat challenges of climate change. Bezos started the fund following criticism that his e-commerce and shipping business contributes to climate change and the founder is not doing anything about it. The billionaire said last year that Amazon would acquire a fleet of electric vehicles to deliver goods, changing all its fuel-based vehicles by 2030.