Bezos launching initiative that commits $10 billion to combat climate change

Amazon founder and CEO Jeff Bezos on Monday announced the launch of the Bezos Earth Fund, a new global initiative that will commit $10 billion to combating climate change.

Bezos, whose net worth is listed at $130 billion, said in an Instagram post that the fund would support scientists, activists, nongovernmental organizations (NGOs) and “any effort that offers a real possibility to help preserve and protect the natural world.”

While he did not offer details on what efforts he plans to prioritize, Bezos said he would begin issuing grants in connection to the fund this summer. 

“Climate change is the biggest threat to our planet,” he said. “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.”

The fund will provide donations — not investments that Bezos could potentially profit from, The New York Times reported, citing a person with knowledge of the plan. The initiative is reportedly separate from Amazon’s work.