One small step for man, one giant leap for mankind is how we can term this philanthropic move is to the climate of this world. Amazon CEO Jeff Bezos, who is the richest person in the world, announced in an Instagram post on Monday that he was donating $10 billion to combat climate change in a new initiative called the Bezos Earth Fund. The post read as follows:

“Today, I’m thrilled to announce I am launching the Bezos Earth Fund. Climate change is the biggest threat to our planet. I want to work alongside others both to amplify known ways and to explore new ways of fighting the devastating impact of climate change on this planet we all share. This global initiative will fund scientists, activists, NGOs any effort that offers a real possibility to help preserve and protect the natural world. We can save Earth. It’s going to take collective action from big companies, small companies, nation states, global organizations, and individuals. I’m committing $10 billion to start and will begin issuing grants this summer. Earth is the one thing we all have in common let’s protect it, together. – Jeff”

Amazon has faced criticism in the past over sustainability and climate change policies. Amazon, which delivers over an estimated 1 billion packages per year, has subsequently been criticized for having a huge environmental footprint. Less than 24 hours before over 1,000 Amazon employees were set to walk out in protest of the company’s environmental track record last September, Bezos announced the company’s “Climate Pledge.”

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