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 top environmental think tank as the CEO of his $ 10 billion Earth Fund.
In an Instagram post, Bezos said that Andrew Steer, who currently serves as president and CEO of the World Resources Institute, a non-profit environmental body, has agreed to lead the Earth Fund.
“Lauren and I are excited to have Andrew on board and we are very energetic about the fund and our partners,” Bezos wrote in the post, referring to his girlfriend, Lauren Sanchez. Sanchez has attended previous meetings with Earth Fund beneficiaries, the Earth Fund said.
The Earth Fund, launched in February last year, 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.” In November last year, Bezos announced the first beneficiaries of the Earth Fund, with groups receiving grants worth $ 791 million. Recipients included Nature Conservation, the Natural Resources Board, the World Wildlife Fund and the World Resources Institute.
Bezos actively participated in the interview process and hired Steer, Earth Fund said. In addition to leading the World Resources Institute, Steer has deep ties to global environmental and economic groups, in addition to having previously held leadership positions at the World Bank.
In a series of tweets, Steer said that the Earth Fund will invest in scientists, NGOs, activists and the private sector for the further development of new technologies, investments, policy changes and behavior. One of the key goals of the Earth Fund, which Bezos hopes to “spend” between now and 2030, will be around the impact of climate change on “poor and marginalized communities,” Steer said.
Steer’s appointment comes as Bezos is set to step down as Amazon’s CEO later this year, handing over leadership to AWS CEO Andy Jassy. Bezos is expected to focus on projects such as the Earth Fund, its Blue Origin space company, The Washington Post and the Amazon Day 1 Fund.