Amazon CEO Jeff Bezos announces on September 19, 2019 in Washington the co-founding of The Climate Pledge at the National Press Club.
Paul Morigi | Getty Images | Amazon
Amazon CEO Jeff Bezos on Tuesday appointed the head of a top environmental think tank as CEO of its $ 10 billion Earth Fund.
In an Instagram post, Bezos said Andrew Steer, who currently serves as president and CEO of the nonprofit World Resources Institute, has agreed to lead the Earth Fund.
“Lauren and I are thrilled to have Andrew on board and with so much energy for what awaits us at the Fund and our partners,” Bezos wrote in the post, referring to his girlfriend, Lauren Sanchez. Sanchez has participated in previous meetings with recipients of the Earth Fund, 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 grants worth $ 791 million. Recipients included the Nature Conservation, the Natural Resources Defense Council, the World Wildlife Fund and the World Resources Institute.
Bezos was actively involved in the interview process and hired Steer, the Earth Fund said. In addition to leading the World Resource Institute, Steer maintains deep ties with global groups focused on economic and environmental issues, in addition to having held 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 changes and behavior. One of the key areas of the Earth Fund, which Bezos hopes to “spend” by 2030, will be around the impacts of climate change on “poor and marginalized communities,” Steer said.
Steer’s appointment comes when Bezos intends to step down as CEO of Amazon later this year, turning the helm into AWS CEO Andy Jassy. Bezos is expected to focus more on projects such as the Earth Fund, its Blue Origin space company, the Washington Post and the Amazon Day 1 Fund.