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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

Updated 34 mins ago - Politics & Policy

Prosecutor to seek hate crime charges, death penalty in Atlanta shootings

In Hopkinton, Mass., the Rally & Run To Stop Asian Hate is held to show solidarity in the wake of deadly Atlanta shootings and to mourn the loss of eight lives including six Asian women. Photo: Jonathan Wiggs/The Boston Globe via Getty Images

Prosecutors unveiled murder charges against the white man accused of shooting and killing eight people, six of whom were Asian women, at Atlanta-area spas, AP reports.

Driving the news: A prosecutor filed notice that she plans to seek hate crime charges and the death penalty in the case. Two separate grand juries have now indicted the suspect on murder charges.

America's pandemic coin crunch returns

Illustration: Sarah Grillo/Axios

An early pandemic problem that plagued businesses is back: not enough change to go around.

Why it matters: The pandemic broke America's coin flow. It has repercussions for millions that rely on it for daily transactions.