Jeff Bezos Names 16 Organisations To Benefit From Climate Action Fund
Jeff Bezos has named 16 environmental organisations that will benefit from the first bit of his $10 billion climate action fund on Instagram. The organisations will get a total of $791 million, however, Bezos did not specify the sharing formula.
“I’ve spent the past several months learning from a group of incredibly smart people who’ve made it their life’s work to fight climate change and its impact on communities around the world. I’m inspired by what they’re doing, and excited to help them scale,” Bezos said on Instagram.
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The world’s richest man announced the creation of the personal $10 billion Bezos Earth Fund in February 2020. This fund will shave away about seven per cent of Bezos’s net worth.
The Amazon CEO’s climate fund favours more established legacy organisations with established climate advocacy compared to other tech organisation. His support also favours mainstream environmental groups rallying for new policies and research on climate change.
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Amazon, Microsoft, and Stripe, for example, chose brand-new technologies aiming to reduce and capture their industries’ greenhouse gas emissions to benefit from its funding.
Amazon on its part is dedicating a $2 billion climate fund toward getting more electric vehicles on the road. The company also announced in September 2020 that it aims to capture carbon dioxide emissions by reducing emissions from fuel engines.
Microsoft in January 2020 pledged $1 billion on technologies that remove planet-heating carbon dioxide from the atmosphere. The company is committing the amount over a period of four years.
The beneficiaries of Jeff Bezos Climate Action Fund include; The Climate and Clean Energy Equity Fund, ClimateWorks Foundation, Dream Corps Green For All, Eden Reforestation Projects, Energy Foundation, Environmental Defense Fund, The Hive Fund for Climate and Gender Justice, Natural Resources Defense Council, The Nature Conservancy, NDN Collective, Rocky Mountain Institute, Salk Institute for Biological Studies, The Solutions Project, Union of Concerned Scientists, World Resources Institute, and World Wildlife Fund.
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