Amazon CEO Jeff Bezos who announced plans to step down as Amazon’s CEO last month to focus on philanthropic and science interests, is set to spend the $10 billion he invested in the Bezos Earth Fund by 2030, the Associated Press reported.
Bezos announced the fund in February 2020, but he offered few details on how exactly the money would be distributed. Andrew Steer, who for eight years has been the head of the environmental nonprofit World Resources Institute (WRI), will be the fund’s CEO.
In a series of tweets, Steer revealed very few details, however he did say Bezos’ “goal is to spend it down between now and 2030.”
“The Earth Fund will invest in scientists, NGOs, activists, and the private sector to help drive new technologies, investments, policy change and behavior,” Steer tweeted. “We will emphasize social justice, as climate change disproportionately hurts poor and marginalized communities.”
Bezos wrote in an Instagram post, “Lauren and I are thrilled to have Andrew aboard and very energized about what lies ahead for the Fund and our partners.”
In a statement, Steer said he felt “incredibly fortunate” to join the fund.
“I will focus on driving systemic change to address the climate and nature crises, with a focus on people,” he said. “Too many of the most creative initiatives suffer for a lack of finance, risk management or the right partnerships. This is where the Earth Fund will be helpful.”
According to a Vox report Steer is “generally well-regarded in climate circles and is particularly plugged in outside of the United States.”