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Illustration: Aïda Amer/Axios

The Atlantic has begun solving a big mystery in climate advocacy circles — how Jeff Bezos will spread around money from the $10 billion "Bezos Earth Fund" announced in February.

Why it matters: The fund's size makes it a huge presence in climate philanthropy. And, until now, the fund has been a mysterious presence, given the dearth of info and the broad scope of funding areas.

  • Bezos initially said the first grants would arrive in the summer, but that came and went.

Where it's going, per The Atlantic's reporting:

  • $100 million each to the Nature Conservancy, the Environmental Defense Fund, the Natural Resources Defense Council, the World Wildlife Fund and the World Resources Institute.
  • Grants of $10 million to $50 million for the Energy Foundation, the Union of Concerned Scientists, the ClimateWorks Foundation, and the Rocky Mountain Institute.

What we're watching: For the fund to roll out the grants, and more.

  • "This list does not reflect the complete range of organizations that the Earth Fund has been speaking with and that will be receiving grants from the fund in this initial round – stay tuned," a representative of the fund told the Atlantic (and Axios).

Go deeper

Fund managers are ultra-bullish on stocks amid the pandemic

Illustration: Aïda Amer/Axios

Fund managers surveyed by Bank of America are more optimistic about the stock market now than they’ve been in more than two years. The bank surveyed 216 fund managers who collectively oversee $573 billion.

Worth noting: The survey began as U.S. election results trickled in. It was still in progress when Pfizer and BioNTech released promising data about the efficacy of their coronavirus vaccine.

22 mins ago - Health

U.S. exceeds 100,000 COVID-related hospitalizations for the first time

People wait outside the Emergency room of the Garfield Medical Center in Monterey Park, California on Dec 1. Photo: Frederic J. Brown/Getty Images

More than 100,200 Americans were hospitalized as of Wednesday due to the coronavirus for the first time since the outbreak began in early 2020, per the COVID Tracking Project.

The big picture: The milestone comes as health officials anticipated cases to surge due to holiday travel and gatherings. The impact of the holiday remains notable, as many states across the country are only reporting partial data.

4 hours ago - Science

The "war on nature"

A resident stands on his roof as the Blue Ridge Fire burned back in October in Chino Hills, Calif. Photo: Jae C. Hong/AP

Apocalyptic weather is the new normal because humans are "waging war on nature," the UN declared on Wednesday.

What they're saying: "The state of the planet is broken," said UN Secretary-General António Guterres, reports AP. “This is suicidal.”