Jeff Bezos Pledges $1B To Aid Conservation Efforts As Part Of $10B Earth Fund

Amazon.com Inc AMZN founder Jeff Bezos on Monday pledged to donate $1 billion toward efforts around conservation as part of a $10 billion commitment to fight climate change and protect and restore nature.

What Happened: The fresh grant is part of the Bezos Earth Fund and would support efforts around spending in places like the Congo Basin, the Andes and tropical parts of the Pacific Ocean.

Bezos Earth Fund, which was created in 2020, said it would use the latest round of funding to execute a goal to protect 30% of land and sea by 2030 to prevent mass extinctions and boost resilience to climate change. 

See Also: UK Prime Minister To Challenge Jeff Bezos In Face-To-Face Meeting During US Visit Over Amazon's Tax Record

Why It Matters: The earth fund is Bezos' largest philanthropy investment. Earlier this month, the fund had committed $203.7 million by the end of the year to organizations advancing climate justice, among other causes. Just last year, it had awarded $791 million in grants to 16 organizations, including the World Wildlife Fund, the Natural Resources Defense Council and the Nature Conservancy.

The latest plan is led by Britain, Costa Rica and France and the announcement comes after Bezos met the U.K. Prime Minister Boris Johnson on Monday during his visit to the United States.

Companies like Amazon and others are under pressure to increase the speed of delivering goods to final customers but not without taking into account environmental consequences.

Price Action: Amazon shares closed 3.08% lower at $3,355.73 on Monday.

Photo: Courtesy of Daniel Oberhaus via Wikimedia