Jeff Bezos’ Earth Fund pledges $443 million to climate change
The Future. Bezos’ Earth Fund announced a new round of climate change grants this week. The move comes after criticism that the fund typically has directed money towards big-name environmental groups. With the extent of Amazon’s impact on the environment, Bezos may need to take it a step further if he wants to win over grassroots environmentalists.
Funding for earth
Bezos Earth Fund is committing $443 million to conserve and restore land and reduce environmental burdens in marginalized communities.
- $261 million will support the 30×30 initiative, which aims to protect 30% of land and sea by 2030.
- $130 million will go to nineteen different organizations doing “critical climate justice work.”
- $130 million will go to the Justice40 Initiative in the U.S to ensure that disadvantaged communities receive benefits of clean energy and climate action.
- $51 million will support land restoration in the U.S. and in Africa.
To date, Bezos Earth Fund has pledged over $3 billion in grants, or about 1% of Bezos’ net worth.
The climate gap
Climate change has different effects on people from different socioeconomic backgrounds. On average, disadvantaged communities disproportionately suffer from the environmental burdens and consequences of climate change.
Bezos Earth Fund, which launched in February 2020, has seen backlash from grassroots activists for contributing to this pattern — funneling funds to big-name environmental groups with massive budgets. This latest announcement is, in part, an effort to combat that backlash.