Published: Tue, February 18, 2020
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Jeff Bezos Will Attack Climate Change With His Own $10 Billion

Jeff Bezos Will Attack Climate Change With His Own $10 Billion

Amazon founder Jeff Bezos has announced plans to spend $10 billion (KSh 1.1 trillion) of his own fortune to help in fighting climate change. He's calling it the Bezos Earth Fund.

It appears he will donate the money to researchers and advocacy groups, rather than investing it into startups and other for-profit ventures tackling climate change, Axios reported.

There are a few lessons we can all learn from Bezos's announcement and the reaction to it so far.

"If #Bezos wants to do something for the world, he can start with his excessive packaging".

An announcement said the fund will start issuing grants this summer.

Alienated Amazon employees appear to have set the whole thing in motion.

Last year, Bezos pledged to make online retailer Amazon net carbon neutral by 2040 - the first major corporation to announce such a goal - and to buy 100,000 electric delivery vehicles from USA vehicle design and manufacturing startup Rivian Automotive LLC.

The online retailer relies on fossil fuels to power planes, trucks and vans in order to ship billions of items all around the world. There have been walkouts and some staff have spoken publicly.

The personal commitment from Bezos to finance individuals and organizations working to "save Earth" is a departure from how Amazon views actions taken by its employees that advocate for the same goal. The group also questioned the company's support for oil and gas businesses.

This is something Bezos has consistently done in his stewardship of Amazon, for example, by keeping the company unprofitable for years while he poured all the revenues he could back into improving the company. However, we are expecting more information around the fund - how activists, NGOs and scientists can apply for a grant, and how grants will be given - to come out soon.

Both these senators are running for the Democratic party nomination and are just two of many politicians beginning to discuss whether addressing large-scale problems such as climate change, health care, student debt, and the cost of education could be made possible simply by taxing the wealthy. But considering how much of a difference $10 billion can make, it's also a very good thing to do.

As Jeff Bezos showed us yesterday, when you post on the main feed in Insta, you better deliver.

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