How to donate $ 10 billion

Jeff Bezos will speak at the COP26 Climate Summit in Glasgow, England, on November 2, 2021.

Paul Ellis | Pool | Getty Images

Andrew Steer has a big challenge before him. Donate $ 10 billion in Jeff Bezos money over the next decade.

As of Thursday, November 4th Bezos Earth Fund Granted $ 974 Million, Still leaving over $ 9 billion.

Fund goals, Which Bezos announced on his Instagram page in February 2020To improve data programs and analytics to better track the economy and outcomes of programs, organizations, and nature conservation, combating inequality caused by climate change, decarbonization of the economy, and the new green economy. Is to provide funding.

“Clearly, it takes trillions of dollars to build a green world economy,” Andrew Stair, CEO of the Bezos Earth Fund, told CNBC on a call from Glasgow, Scotland. Change the meeting.

Others agree on the size of the invoice. The International Energy Agency, an intergovernmental organization based in Paris, states that global annual clean energy investment needs to: More than triple to about $ 4 trillion by 2030 Reach net zero emissions by 2050.

“But what we can do with these invaluable and generous resources we have at the Bezos Earth Fund-we can inject them very wisely,” Stair told CNBC. ..

on Monday, Bezos Earth Fund promised its $ 2 billion Of the $ 10 billion, it will be directed towards the restoration of nature and the transformation of the food system. During September’s Climate Week NYC, the Bezos Earth Fund naturally promised $ 1 billion, bringing a total of $ 3 billion to conservation, landscape restoration and food system transformation.

“The goal of the Bezos Earth Fund is to identify the major transitions we need to make as an economy and as a society in the world, and where we can help accelerate these transitions. “Steer said.

Bezos Earth Fund Amazon Climate Pledge FundIs investing in the technology that Amazon and other companies need to reach their goal of zero net carbon emissions by 2040.

The Bezos Earth Fund does not have such specific authority.

“We’re completely different from Amazon … I don’t work for Amazon,” Stair told CNBC. “Our job is not to invest in the technology associated with a particular company, but to ensure that we invest in the technology that everyone needs.”

Bezos is the fund’s executive chairman and his girlfriend Lauren Sanchez is the vice chair. They are actively involved, Stair said.

“We have very very good communication about this, so they are very interested … and in a very informative and positive way,” Stair said. “Jeff and Lauren are involved in agreeing, supporting and deciding where to go for resources.”

We have a team of experts who make suggestions, investigate and give advice.

Stair sees the evolution to a green economy as a series of major changes, and within each of those major changes there is another series of small steps.

“There are major transitions such as energy systems, food systems, manufacturing, construction environments, transportation, etc., and each of these has 4 or 5 sub-transitions, which is very large in itself.”

For example, consider transportation. In summary, internal combustion engines need to be phased out. But to get there, he said, he needed to develop new aviation fuels and improve public transport.

“What we are doing is identifying where these transitions are on their journey. How close are they to the turning point? And some of them are working and I We don’t need our help. It’s our job to identify and remove obstacles. “

In some situations, removing the obstacle means conducting an investigation. It can also be a data and monitoring issue. Alternatively, it may be government policy that needs to be updated, which will require political advocacy.

“So there are all sorts of instruments we have at our disposal,” Stair said. “What we have to do is take a fairly diagnostic approach to these transitions, and we need to inject, for example, funding and influence, and the ability to convene. That’s what works. Must be injected in the same way. “

Where the money has ever gone

On September 8, the Bezos Earth Fund announced a $ 203.7 million pledge to a nonprofit organization working on climate justice, advocacy for climate-savvy economic recovery, and decarbonization innovation. Of this amount, $ 73.7 million was immediately donated, with a promise of $ 130 million by the end of 2021. According to the document..

In climate justice, money is Deep South Center for Environmental Justice ($ 4 million), Partnership for Southern Equity ($ 6 million), Robert D. Bullard Center for Environmental and Climate Justice, Texas Southern University ($ 4 million), and We act for environmental justice ($ 6 million).

In advocacy for climate-focused economic recovery, subsidies Climate power ($ 15 million) and Conservation Voter Education Fund League ($ 5 million).

And in decarbonization innovation, subsidies Ceres Net Zero Finance Initiative ($ 3 million), Missionable partnership ($ 7 million), Science-based target Initiative ($ 18 million), Earth Shot Award ($ 4.2 million), and National Geographic Society and Campaign for Nature ($ 1.5 million).

But Stair has a clear view of the amount of effort needed to mitigate climate change.

“We need to put all our hands on the deck,” Stair said. “We need the government to fortify our resources. We obviously need the financial sector to fortify our resources, and we need philanthropy.” How to donate $ 10 billion

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