Jeff Bezos Makes $10 Billion Pledge to Launch Earth Fund

In an effort to combat climate change, Amazon’s CEO Jeff Bezos has made a big move.

The wealthiest man in the world has pledged $10 billion to launch Bezos Earth Fund that he plans to use to combat climate change and issue grants to climate-oriented scientists and activists in their efforts to “preserve and protect the natural world.”

“We can save Earth,” wrote Bezos on Instagram. “It’s going to take collective action from big companies, small companies, nation states, global organizations, and individuals,” he added.

“Climate change is the biggest threat to our planet,” he wrote. “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 expects Earth Fund to begin issuing grants to climate-oriented causes as soon as this summer.

Amazon Employees for Climate Justice support Bezos’s move but are still concerned about the company’s support of the oil and gas industry.

“We applaud Jeff Bezos’ philanthropy, but one hand cannot give what the other is taking away,” said the group. “The people of Earth need to know: When is Amazon going to stop helping oil & gas companies ravage Earth with still more oil and gas wells?”

Disclaimer: We have no position in Amazon.com, Inc. (NASDAQ: AMZN) and have not been compensated for this article.