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Jeff Bezos Says He’ll Spend $10 Billion On Climate Change By 2030

by : Julia Banim on : 10 Mar 2021 12:48
Jeff Bezos Says He'll Spend $10 Billion On Climate Change By 2030PA Images

Amazon founder Jeff Bezos will reportedly pour $10 billion worth of funds into fighting climate change by 2030, as per a statement from Dr. Andrew Steer, the new Bezos Earth Fund CEO.

Dr. Steer was named as the new Bezos Earth Fund CEO and president on Tuesday, March 9, with Bezos stating in an Instagram post that he possesses ‘decades of experience in environmental and climate science as well as economic and social policy in the US, Europe, Asia, and Africa’.

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Most recently, Dr. Steer, who holds a PhD in international economics and finance, held the post of president and CEO at the World Resources Institute (WRI), leading a team of more than 1,400 experts all ‘working to alleviate poverty while protecting the natural world’.

As per a press release from the WRI, Dr. Steer oversaw an ‘era of expanded growth, reach and impact’ at the institute, during which the budget quadrupled between the years 2012 and 2021.

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With his new position at the Bezos Earth Fund, Dr. Steer will reportedly ‘set the strategic vision and oversee the distribution of grants from the $10 billion fund’.

In a series of tweets about his appointment, Dr. Steer stated that he is ‘deeply honoured’ to have been chosen for the role by Bezos, and went on to discuss how the fund will be used to tackle the ongoing climate crisis.

Dr. Steer also revealed that that Bezos’s ‘goal is to spend it down between now and 2030’, meaning that this work out at a pace of more than $1 billion a year.

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Dr. 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 emphasise social justice, as climate change disproportionately hurts poor and marginalized communities.

The Bezos Earth Fund was unveiled in February 2020, with the first donations announced in November. This initial round of funding was given to 16 organisations in total, all of which are said to be working towards ‘innovative, ambitious, and needle-moving solutions’.

Bezos gave the following statement at the time:

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This $791 million in donations is just the beginning of my $10 billion commitment to fund scientists, activists, NGOs, and others. We can all protect Earth’s future by taking bold action now.

Recipients of the funding included: the Nature Conservancy; NDN Collective; Rocky Mountain Institute; Salk Institute for Biological Studies; The Solutions Project; Union of Concerned Scientists; World Resources Institute; and the World Wildlife Fund (WWF).

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Julia Banim

Jules studied English Literature with Creative Writing at Lancaster University before earning her masters in International Relations at Leiden University in The Netherlands (Hoi!). She then trained as a journalist through News Associates in Manchester. Jules has previously worked as a mental health blogger, copywriter and freelancer for various publications.

Topics: News, Climate Change, Jeff Bezos, Now

Credits

Jeff Bezos/Instagram and 2 others
  1. Jeff Bezos/Instagram

    @jeffbezos

  2. World Resources Institute

    RELEASE: President and CEO Andrew Steer to Depart WRI to Lead Bezos Earth Fund

  3. Andrew Steer/Twitter

    @AndrewSteerWRI