Amazon.Com Inc. Chief Executive Jeff Bezos committed $10 billion to start a new fund to combat climate change, the most significant philanthropic move to date for the world's richest man.
His climate commitment follows a bold pledge Amazon made after its workers, and other tech giants were urged to do more to cope with climate change.
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Amazon's move was lauded but move not enough
Amazon Employees for Climate Justice lauded the effort but called on the company to do more. The organization usually coerced the business enterprise to do something on climate change, demonstrating outside its Seattle headquarters and writing open letters to the agency.
"When is Amazon going to forestall supporting oil [and] fuel groups ravage Earth with still extra oil and fuel wells?" the organization said in a statement. The institution has been critical of Amazon's work with oil-and-gasoline businesses as part of its Amazon Web Services cloud-computing unit.
Amazon to help protect the natural world
In his Instagram account, the Amazon founder said he would assist scientists, activists, and other stakeholders in their effort to "to help hold and protect the natural world."
Mr. Bezos, who provided a few pieces of information about the fund, said Bezos Earth Fund would start rolling out offers this summer.
Climate change, according to Mr. Bezos, is the most significant risk to our planet. He added he wants to work alongside others to increase known methods and discover new ways of combating the devastating impact of climate on the planet.
Amazon, which ships billions of items each year, said it would lessen the emissions it creates by airplanes, vehicles, and trucks to ferry its packages throughout the globe. The organization plans to reserve 100,000 electric delivery vehicles.
Bezos said it might instantly become one of the most prominent foundations in the U.S., as well as one of the most significant economic commitments to fight climate change.
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Tech giants join Amazon in climate pledge
Tech firms from Microsoft to Alphabet Inc.'s Google have joined Amazon in making climate pledges in the latest months. Large groups committed to curb greenhouse-gas emissions and buy green electricity have grown to be pertinent to their recruiting and retention efforts, particularly among younger workers.
Renewable Energy Buyers Alliance, according to a report by Wall Street Journal, said U.S. businesses signed deals for a record 9.3 gigawatts of renewable energy in 2019.
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Mr. Bezos is an investor and board member in Breakthrough Energy Ventures, a $1 billion fund co-chaired by way of Mr. Gates and the philanthropist John Arnold. The fund objectives to put money into promising experimental electricity technologies.
Mr. Bezos' other personal philanthropic arm is his Bezos Day One Fund, which launched in 2018 with a dedication of $2 billion toward investment nonprofits that useful resource homeless families and developing nonprofit pre-schools in low-earnings communities. He previously indicated that he sees his $1 billion-a-year investment of Blue Origin, his rocket company, as a vital charitable endeavor.