New Chief Appointed To Jeff Bezos's Earth Fund

Mar, 2021 - By SMI

Jeff Bezos have chosen a new leader for his new project related to environment, The Earth Fund, which will be spending about US$ 10 billion dollars.

Jeff Bezos’ new project Earth Fund will now have a new leader and a new deadline. Andrew Steer who was previously on a leading role in an environmental organization funded by Jeff Bezos, will now become the CEO and president of the Earth Fund. He further revealed that Bezos plans to spend the whole amount of US$10 billion dollars by the end of year 2030. Bezos's choice of Steer to run the Earth Fund is yet another indication that he plans to invest his money on conventional solutions to the climate crisis. The bulk of Bezos' first grantees were legacy environmental organizations that aim to minimize planet-warming carbon dioxide emissions.

Other high-profile initiatives, on the other hand, have poured money into accelerating the production of potential technologies that will catch emissions after they've already been produced. For eight years, Steer was the president of the World Resources Institute (WRI), an agency that won one of Bezos' largest grants which was $100 million in November, 2020. The money will be invested on two programs over the next five years, according to the nonprofit research institute.

A satellite monitoring system to track carbon dioxide emissions is one of the projects. WRI will also use the funds to electrify over 450,000 school buses in the United States by 2030. Steer also passed some statements like they will be investing in NGOs, activists, scientist and in industries to bring awareness among them and make them implement some of the changes in their factory to reduce pollution. He also added that they will be emphasizing more on social justice as marginalized communities and the poor are the most affected ones during climate change.