Bezos at Amazon Smbhav in New Delhi on Jan. 15. Photo: Sajjad Hussain/AFP via Getty Images
Amazon founder Jeff Bezos announced the launch of his "Earth Fund" on Monday via Instagram to fund climate change research and awareness.
What he's saying: Bezos says he's initially committing $10 billion to fund "scientists, activists, and NGOS" that are working on environmental preservation and protection efforts.
- "I 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," Bezos' Instagram post reads.
- He says he'll start issuing grants this summer.
Details: That $10 billion comes from Bezos' personal money and none of the funds will be used in for-profit enterprises, investing in private companies or startups, a person familiar with the fund told Axios.
This big picture, per Axios' Ben Geman: The new fund is the latest example of tech companies or their billionaire founders devoting more resources to climate change.
- Microsoft co-founder Bill Gates has worked on climate for years through the Bill & Melinda Gates Foundation, and via Breakthrough Energy Ventures, a fund Bezos also invests in that stakes clean energy startups.
- And last month when Microsoft rolled out its pledge to become “carbon negative” by 2030, it announced a new fund to invest $1 billion over four years to accelerate development and use of carbon reduction and removal technologies.