Amazon CEO Jeff Bezos announces the co-founding of The Climate Pledge at the National Press Club on September 19, 2019 in Washington.
Paul Morigi | Getty Images | Amazon
Amazon CEO Jeff Bezos on Tuesday named the head of a leading environmental think tank as the CEO of his $ 10 billion Earth Fund.
In an Instagram post, Bezos said Andrew Steer, who is currently president and CEO of the World Resources Institute, a nonprofit environment, has agreed to lead the Earth Fund.
“Lauren and I are delighted to have Andrew on board and very concerned about what lies ahead for the Fund and our partners,” Bezos wrote in the post, referring to his girlfriend, Lauren Sanchez. Sanchez has participated in previous meetings with Earth Fund recipients, the Earth Fund said.
The Earth Fund, launched last February, is designed to combat the effects of climate change by awarding grants to scientists, activists and other organizations in their efforts to ‘preserve and protect the natural world’. Last November, Bezos announced the first recipients of the Earth Fund, with groups receiving $ 791 million in grants. Among the recipients were the Nature Conservancy, Natural Resources Defense Council, the World Wildlife Fund and the World Resources Institute.
Bezos actively participated in the interview process and appointed Steer, the Earth Fund said. In addition to being head of the World Resources Institute, Steer also has deep ties with world groups focused on environmental and economic issues, in addition to previously holding senior positions at the World Bank.
In a series of tweets, Steer said the Earth Fund will invest in scientists, NGOs, activists and the private sector to develop new technologies, investments, policy change and behavior. One of the key focal points of the Earth Fund, which Bezos hopes to spend from now until 2030, revolves around the effects of climate change on ‘poor and marginalized communities’, Steer said.
Steer’s appointment comes as Bezos will step down as CEO of Amazon later this year and hand over the helm to Andy Jassy, CEO of AWS. Bezos is expected to pay more attention to projects such as the Earth Fund, its Blue Origin space company, The Washington Post and the Amazon Day 1 Fund.