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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.

Go deeper: Amazon and Big Tech can't escape climate pressure

Go deeper

Bipartisan group of senators unveil $908 billion COVID stimulus proposal

Sens. Joe Manchin (D-W.Va.) and Susan Collins (R-Maine) in the Capitol in 2018. Photo: Tom Williams/CQ Roll Call

A bipartisan group of senators on Tuesday proposed a $908 billion coronavirus stimulus package, in one of the few concrete steps toward COVID relief made by Congress in several months.

Why it matters: Recent data shows that the economic recovery is floundering as coronavirus cases surge and hospitals threaten to be overwhelmed heading into what is likely to be a grim winter.

Inside Patch's new local newsletter platform

Illustration: Annelise Capossela/Axios

Patch, the hyperlocal (and profitable) local digital news company, has built a new software platform called "Patch Labs" that lets local news reporters publish their own newsletters and websites, sources tell Axios.

Why it matters: It follows a growing trend of journalists going solo via newsletters at the national level.

Scoop: Politico stars plot new Playbook

Anna Palmer and Jake Sherman. Photo: Alex Wong/Getty Images

Three of Politico’s biggest reporting stars plan to launch a competitor to the company’s Politico Playbook franchise, sources tell me. 

Why it matters:  Jake Sherman, Anna Palmer and John Bresnahan will launch a daily newsletter in 2021 as a stand-alone company, the sources say. In effect, they will be competing against the Playbook franchise they helped create and grow.