Bezos adds heft to climate fight with $10 bn fund

Amazon founder Jeff Bezos has decided to commit $10 billion to fight climate change. The world’s richest person took to Instagram to announce the initiative, calling climate change the “biggest threat to our planet”. Mint explores its objectives and what else has to be done.

What did Bezos say about his fund?

Bezos said he wanted to work alongside others, both to amplify known ways and explore new ones of fighting the devastating impact of climate change. This global initiative will fund scientists, activists, non-governmental organizations—any effort that offers a real possibility to help preserve and protect the natural world. He said it would take collective action from big and small companies, nations, global organizations and individuals. The billionaire would begin providing grants this summer. He said, “Earth is the one thing we all have in common—let’s protect it, together.”

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Why has he taken this up as a cause?

This is not the first time he has taken up the fight against climate change. He has invested in Breakthrough Energy Ventures, a fund that finances development of technologies aimed at reducing pollution, fossil fuel consumption and carbon emissions and encouraging the use of green energy. What is different this time is the size of the commitment—$10 billion—as well as the voluntary nature of the initiative. All this from a company often criticized for not doing enough to protect the environment—what with its oversized cartons, and excessive use of thermocol and plastic packaging.

What has been the initial response to the fund?

A group of people identifying themselves as “Amazon Employees for Climate Justice” was quick to issue a statement on Twitter. While complimenting Bezos, it had some tough questions: When is Amazon going to go all-electric trucking? It called upon the online retail-to-cloud giant to stop funding climate change-denying think tanks and be more responsible towards nature.

What is Amazon doing for the environment?

Amazon is committed to the goal of reaching net zero carbon emissions by 2040, a decade earlier than called for under the UN Paris Agreement. It also aims to draw all its energy needs from renewable sources to power its corporate infrastructure by 2030. In India, the company is rolling out a fleet of electric delivery rickshaws. Last year, it ordered 100,000 electric delivery vans from Rivian, a Michigan-based startup that Amazon is invested in. All these vans are expected to be on the road by 2024.

Will $10 billion help stem the problem?

There is no disputing that humans have greatly damaged the environment. It may not be irreversible but does require urgent action. A sum of $10 billion may be too small to repair the harm done but it is a significant signal towards the magnitude of the problem and the commitment of one man to walk the talk. That the world’s wealthiest person is doing it lends more heft to the cause and increases the visibility of the message, helping bring in more such volunteering and funds to the fight.