{"id":52093,"date":"2020-02-19T17:52:50","date_gmt":"2020-02-19T15:52:50","guid":{"rendered":"https:\/\/www.csregypt.com\/?p=52093"},"modified":"2020-02-19T17:52:50","modified_gmt":"2020-02-19T15:52:50","slug":"jeff-bezos-commits-10-billion-to-address-climate-change","status":"publish","type":"post","link":"https:\/\/csregypt.com\/en\/jeff-bezos-commits-10-billion-to-address-climate-change\/","title":{"rendered":"Jeff Bezos Commits $10 Billion to Address Climate Change"},"content":{"rendered":"

Jeff Bezos, Amazon\u2019s chief executive and the world\u2019s richest man, said on Monday that he was committing $10 billion to address the climate crisis in a new initiative he called the Bezos Earth Fund.<\/p>\n

The effort will fund scientists, activists and nongovernmental organizations, he said in\u00a0a post on Instagram<\/a>. Mr. Bezos, who has been pushed by Amazon employees on climate issues, said he expected to start issuing grants this summer.<\/p>\n

\u201cClimate change is the biggest threat to our planet,\u201d he wrote. \u201cI want to work alongside others both to amplify known ways and to explore new ways of fighting the devastating impact of climate change on this planet we all share.\u201d<\/p>\n

Mr. Bezos has in the past done little philanthropy. With a net worth of $130 billion, he long preferred to focus on Amazon and other private ventures, such as Blue Origin, which makes rockets. Mr. Bezos also owns The Washington Post.<\/p>\n

More recently, Mr. Bezos has ramped up his giving. His largest donation to date was $2 billion, unveiled in September 2018, to\u00a0help homeless families\u00a0<\/a>and build a network of Montessori preschools, an effort that he announced with his then-wife, MacKenzie.<\/p>\n

After the couple divorced last year, Ms. Bezos said\u00a0she had signed\u00a0<\/a>the Giving Pledge, which asks the world\u2019s richest people to commit to giving away at least half their wealth during their lifetime or in their wills. Mr. Bezos has not signed the pledge.<\/p>\n

In September,\u00a0Mr. Bezos unveiled the Climate Pledge<\/a>, in which he said Amazon would meet the goals of the Paris climate agreement 10 years ahead of schedule and would be carbon-neutral by 2040. As part of the pledge, he said Amazon was ordering 100,000 electric delivery trucks from Rivian, a Michigan-based company that Amazon has invested in.<\/p>\n

At the time, Mr. Bezos said Earth\u2019s climate was changing faster than predicted by the scientific community five years ago. \u201cThose predictions were bad but what is actually happening is dire,\u201d he said.<\/p>\n

Mr. Bezos made that pledge after Amazon\u2019s employees agitated on climate change. For a year, workers pressed Amazon to be more aggressive in its climate goals, staging walkouts and\u00a0talking publicly<\/a>\u00a0about how the company could do better.<\/p>\n

With vast data centers that power cloud computing, and a global network for shipping and delivering packages, Amazon\u2019s own impact on the environment is substantial. In September, the company revealed its own carbon footprint for the first time, disclosing it emitted about 44.4 million metric tons of carbon dioxide in 2018 \u2014 the equivalent of burning almost 600,000 tanker trucks\u2019 worth of gasoline.<\/p>\n

\u201cThat would put them in the top 150 or 200 emitters in the world,\u201d alongside oil and gas producers and industrial manufacturers, Bruno Sarda, president of CDP North America, a nonprofit organization that encourages carbon disclosures, said in an interview at the time.<\/p>\n

Amazon employees cheered the company\u2019s Climate Pledge, but continued to push executives to stop providing cloud computing services to the oil and gas industry. They argued that making fossil fuel exploration and extraction less expensive would make it harder for the global economy to transition toward using more renewable energy.<\/p>\n

Amazon has resisted the pressure, saying in a\u00a0policy statement<\/a>\u00a0that \u201cthe energy industry should have access to the same technologies as other industries.\u201d<\/p>\n

Some employees have also said Amazon has retaliated against them for their activism. Amazon\u00a0has said<\/a>\u00a0the employees should channel their ideas through internal forums, like company meetings and lunch sessions with the sustainability team.<\/p>\n

The workers, through their group Amazon Employees for Climate Justice, said on Monday that although they applauded Mr. Bezos\u2019 philanthropy, \u201cone hand cannot give what the other is taking away.\u201d<\/p>\n

They added, \u201cThe people of Earth need to know: When is Amazon going to stop helping oil and gas companies ravage Earth with still more oil and gas wells? When is Amazon going to stop funding climate-denying think tanks like the Competitive Enterprise Institute and climate-delaying policy?\u201d<\/p>\n

Margaret O\u2019Mara, a professor at the University of Washington who studies the history of tech companies, called the new Bezos fund \u201ca very powerful statement\u201d and said the Amazon chief executive\u2019s actions followed the steps that other tech moguls, such the Microsoft co-founder Bill Gates, had taken to address the warming planet.<\/p>\n

Philanthropy, she added, typically comes in the wake of amassing great fortunes. \u201cThis is yet another reminder that we are in a second Gilded Age,\u201d she said.<\/p>\n

Mr. Bezos provided only rudimentary details about what the Bezos Earth Fund would do and did not directly address priorities that he would support, other than \u201cany effort that offers a real possibility to help preserve and protect the natural world.\u201d<\/p>\n

Since at least high school, Mr. Bezos has seen space exploration as a way to preserve the Earth. He has posited the idea that heavy industry could be in space, leaving the planet cleaner for human use.<\/p>\n

\u201cIf you want to protect the Earth, save the Earth, we have to go to space,\u201d he\u00a0said<\/a>\u00a0in a speech a year ago.<\/p>\n

The new fund will provide donations, rather than make investments that Mr. Bezos would expect to see a profit from, according to a person with knowledge of the plan who was not authorized to speak publicly. The new fund is not connected to Amazon. The donation is one of the largest known commitments made by an individual, according to a\u00a0database<\/a>\u00a0run by The Chronicle of Philanthropy.<\/p>\n

Even if Mr. Bezos were to spend all $10 billion immediately, he\u00a0would still remain<\/a>\u00a0the world\u2019s richest man, according to the Bloomberg Billionaires Index. This month, Mr. Bezos sold more than $4 billion in Amazon shares as part of a prearranged trading plan, according to regulatory filings. Amazon declined to comment on the share sales.<\/p>\n

Mr. Bezos has also been spending his fortune in other ways. He recently\u00a0agreed to pay $165 million for a Beverly Hills estate<\/a>\u00a0owned by David Geffen, the media mogul and co-founder of DreamWorks. Separately, Bezos Expeditions, which oversees The Post and Mr. Bezos\u2019 charitable foundation, is buying 120 undeveloped acres in Beverly Hills for $90 million, though the deal is not complete.<\/p>\n","protected":false},"excerpt":{"rendered":"

Jeff Bezos, Amazon\u2019s chief executive and the world\u2019s richest man, said on Monday that he was committing $10 billion to address the climate crisis in a new initiative he called the Bezos Earth Fund. The effort will fund scientists, activists and nongovernmental organizations, he said in\u00a0a post on Instagram. Mr. Bezos, who has been pushed […]<\/p>\n","protected":false},"author":410,"featured_media":52094,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6261,984],"tags":[6325,6698],"yoast_head":"\nJeff Bezos Commits $10 Billion to Address Climate Change - Csr Egypt<\/title>\n<meta name=\"description\" content=\"Jeff Bezos, Amazon\u2019s chief executive and the world\u2019s richest man, said on Monday that he was committing $10 billion to address the climate crisis.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/csregypt.com\/en\/jeff-bezos-commits-10-billion-to-address-climate-change\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jeff Bezos Commits $10 Billion to Address Climate Change - Csr 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