Jeff Bezos announces first beneficiaries of his $10 billion climate fund (2024)

Jeff Bezos named 16 environmental organizations that will get the first chunk of his $10 billion fund for climate action on Instagram today. Collectively, they’ll get $791 million from the richest man on Earth, although Bezos did not specify how much would go to each group.

“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,” Bezos said on Instagram. “I’m inspired by what they’re doing, and excited to help them scale.”The Amazon CEO announced the creation of his personal $10 billion Bezos Earth Fund in February.

His fund is equivalent to more than 7 percent of his net worth. It’s also 10 times as much as philanthropic foundations gave globally in 2018 to efforts to slow climate change. For his first round of funding, Bezos chose to back a handful of legacy organizations with an established history of advocacy on behalf of the planet. His choice in recipients so far signals support for mainstream environmental groups rallying for new policies and research on climate change.

It’s also somewhat of a departure from contributions that Amazon and other giants have made recently to climate tech startups. Amazon, Microsoft, and Stripe, in contrast to Bezos, have all pledged to funnel money toward developing brand-new technologies to reduce and capture their industries’ greenhouse gas emissions. Much of the first round of funding from Amazon’s $2 billion climate fund will go toward getting more electric vehicles on the road and capturing carbon dioxide emissions, the company announced in September. Microsoft said in January that it would spend $1 billion over four years on technologies that remove planet-heating carbon dioxide from the atmosphere.

Carbon-capture tech favored by tech companies is still in its infancy

But the carbon-capture tech favored by tech companies is still in its infancy. In contrast, some of the advocacy groups Bezos pledged to fund today have been fighting for environmental protections since close to the birth of the modern environmental movement in in the US in the 1960s. That includes the nonprofit Natural Resources Defense Council (NRDC), which is led by Gina McCarthy, an Obama-era Environmental Protection Agency administrator and vocal critic of Trump’s environmental rollbacks. “This generous gift from the Bezos Earth Fund enables NRDC to move even faster on achieving the climate solutions we need at the federal, state and local levels to protect people’s health, strengthen nature’s ability to help fight climate change and grow the clean energy sector and all the jobs that come with it,” McCarthy said in a statement.

Bezos also named the Environmental Defense Fund, which tends to take a more corporate-friendly approach to its advocacy. It’s worked with companies like Walmart and McDonald’s on their sustainability goals. “The needs are enormous,” Environmental Defense Fund president Fred Krupp told The Verge after the Bezos fund was announced in February. “No matter what organization receives this funding, what’s important is that the money be put to work.” Krupp and McCarthy’s organizations will each receive $100 million, according to statements from each group.

Some of the big green groups Bezos chose, however, have been beset by scandal lately. Human rights abuses came to light in a 2019 BuzzFeed News investigation into the nearly 60-year-old conservation charity World Wildlife Fund. The organization’s anti-poaching efforts supported paramilitary groups thatcaptured, tortured, and killed villagers and indigenous peoples in Asia and Africa, BuzzFeed reported.

Two more groups Bezos will fund have had recent shifts in leadership as part of a broader reckoning with systemic racism and sexism within science fields and environmentalism. The CEO of conservation group Nature Conservancy decided to leave his post in June 2019 following allegations of gender discrimination within the organization. The president of the Union of Concerned Scientists, Ken Kimmell, said that he would step down at the end of the year. Kimmell’s decision follows the high-profile resignation of the organization’s former coalitions coordinator, Ruth Tyson, who penned a public letter saying, “It was really stressful and traumatic for me working [at the Union of Concerned Scientists] and I hope no other Black people ever have to share this pain.”World Wildlife Fund and Nature Conservancy said they would each get $100 million from Bezos’ fund, while the Union of Concerned Scientists said it’s been given $15 million.

Among the established organizations, Bezos also decided to fund a recently formed group that centers racial equity in its work, the NDN Collective. It was founded by a diverse group of Native American activists in 2018 to fund and support indigenous-led movements and sustainability initiatives. Bezos will also fund the new Hive Fund for Climate and Gender Justice, which was launched in 2019 with a focus on supporting women in the Southeast US. Bezos is funding research groups, too, like the nonprofit Rocky Mountain Institute and World Resources Institute.

Bezos has so far avoided key activist groups that have been critical of him and Amazon

Bezos has so far avoided key activist groups that have been critical of him and Amazon, like the Sunrise Movement, which has spearheaded campaigns for a Green New Deal. “A reminder that Jeff Bezos has made over $48 Billion during the pandemic while over 40 million Americans have filed for unemployment. Imagine if he actually had to pay taxes and what that money could help fund,” Sunrise Movement tweeted in September.

Still, Sunrise Movement hasn’t necessarily ruled out accepting funding from Bezos to promote its campaigns. “It’s better his extreme wealth sits with organizations like the Climate Justice Alliance and Sunrise than in some offshore tax haven,” Stephen O’Hanlon, Sunrise Movement communications director, said to The Verge in an email after the Bezos fund was announced in February.

Jeff Bezos announces first beneficiaries of his $10 billion climate fund (2024)

FAQs

What did Jeff Bezos do about climate change? ›

About the Bezos Earth Fund

Jeff Bezos has committed $10 billion in this decisive decade to protect nature and address climate change. By providing funding and expertise, we partner with organizations to accelerate innovation, break down barriers to success and create a more equitable and sustainable world.

How much money does the Bezos Earth Fund have? ›

The Bezos Earth Fund has disbursed $1.7 billion out of $10 billion since its inception in 2020.

What charities does Jeff Bezos give money to? ›

Grants range from a $150,000 gift to Family Promise of Cheyenne, Wyoming, to approximately a dozen $5 million gifts to organizations including American Indian Community Development Corporation in Minneapolis and BronxWorks in New York.

How does the Bezos Earth Fund spend its billions? ›

Bezos pledged $10 billion to fighting climate change and protecting the natural world; Steer was charged with figuring out how to spend that money by 2030. So far, the fund has allocated $1.6 billion in grants to programs ranging from nature restoration to decarbonizing industry.

What is the Jeff Bezos climate pledge? ›

On the eve of the walkout, Jeff Bezos announced The Climate Pledge, pledging that Amazon will be net-carbon-zero by 2040.

How does Amazon deal with climate change? ›

In 2019, we set an ambitious goal to match 100% of the electricity we use with renewable energy by 2030. This goal includes all data centers, logistics facilities, physical stores, and corporate offices, as well as on-site charging points and our financially integrated subsidiaries.

Who runs Bezos Earth Fund? ›

Andrew Steer KCMG, PhD is the President and CEO of the Bezos Earth Fund, a $10 billion commitment made by Jeff Bezos in 2020 to address nature and climate challenges in this decisive decade.

How much do you get paid at Bezos Earth Fund? ›

What are Top 10 Highest Paying Cities for Bezos Earth Fund Jobs
CityAnnual SalaryHourly Wage
Santa Rosa, CA$106,510$51.21
Costa Mesa, CA$104,514$50.25
Long Beach, CA$103,825$49.92
Roseville, CA$102,915$49.48
6 more rows

What is Jeff Bezos investing his money in? ›

Build a diversified portfolio

Bezos has invested in social networks, real estate platforms, sports media, education, and much more. This gives him exposure to a range of industries. One of the oldest pieces of investing wisdom is not to put all your eggs in one basket.

Who received $100 million from Jeff Bezos? ›

Jeff Bezos awarded $100 million for Eva Longoria and the admiral who got Osama bin Laden to give to charity.

Who is Jeff Bezos leaving his money to? ›

Amazon founder Jeff Bezos plans to give away the majority of his $124 billion net worth during his lifetime, telling CNN in an exclusive interview he will devote the bulk of his wealth to fighting climate change and supporting people who can unify humanity in the face of deep social and political divisions.

Which billionaire gives money away? ›

Bill Gates and Melinda French Gates have a lifetime giving of $42.5 billion, with a giving focus on health and poverty alleviation. They continue to co-chair the Bill & Melinda Gates Foundation despite their 2021 divorce, Forbes noted. Bill has a net worth of 125 billion, and Melinda's net worth is $10.6 billion.

Is Bezos Earth Fund a charity? ›

The Bezos Earth Fund was established with the largest philanthropic commitment ever to fight climate change and protect nature. As we seek to fulfill our mission ten principles guide our work and inform our decision-making.

Who are the donors for climate change? ›

This includes UN partners, such as UNFCCC, UNEP, FAO, ILO, UNICEF, UN-HABITAT, WHO; Multilateral Banks including the World Bank, AfDB, ADB, IsDB; other intergovernmental and international organizations, such as IRENA, GIZ, GGGI, WWF and WRI; as well as civil society groups.

How did Jeff Bezos get funding? ›

He accepted an estimated $300,000 from his parents as an investment in Amazon. He warned many early investors that there was a 70% chance that Amazon would fail or go bankrupt. Although Amazon was originally an online bookstore, Bezos had always planned to expand to other products.

What are billionaires doing for climate change? ›

That impact extends beyond their philanthropy, as many of the billionaires are also investing in climate tech startup companies and pushing for pro-climate policies. These individuals are championing their own favored clean energy solutions and promoting carbon offset efforts some consider problematic.

Which billionaire gave away his company to fight climate change? ›

Patagonia: Billionaire boss gives fashion firm away to fight climate change. The billionaire founder of the outdoor fashion brand Patagonia has given away his company to a charitable trust. Yvon Chouinard said any profit not reinvested in running the business would go to fighting climate change.

What has Jeff Bezos done for space exploration? ›

Since Bezos founded the company in 2000, Blue Origin and its hardworking engineers and employees have been making progress with the company's many space technologies, including its New Shepard vehicle that lofted a crew of four passengers to space and back this July, and its upcoming New Glenn orbital vehicle.

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