Tuesday, 02 January 2024 12:17 GMT

Jeff Bezos Gives $25 Million To Protect Pacific Ocean: What The Amazon Boss' $10 Billion Climate Pledge Aims To Achieve


(MENAFN- Live Mint) Jeff Bezos' Bezos Earth Fund is committing more than $25 million to ocean conservation across five Pacific island nations, adding to his broader $10 billion commitment to fight climate change and protect nature by 2030.

The latest grants will support projects in the Cook Islands, Kiribati, Papua New Guinea, Tonga and Vanuatu, covering more than 625,000 square miles of ocean.

The Bezos Earth Fund's latest figures show that it has granted $2.4 billion so far across seven programmes. That is about 24% of the $10 billion commitment, leaving roughly $7.6 billion still to be allocated by 2030.

Bezos' $10 billion climate commitment

Bezos established the Bezos Earth Fund in 2020 with a $10 billion commitment to fund scientists, activists, NGOs and other organisations working on climate and nature solutions.

The fund says the money will be fully allocated by 2030, the year by which the UN Sustainable Development Goals are intended to be achieved.

The Earth Fund distributes grants across multiple areas, including nature conservation, food systems, environmental justice, energy and industry decarbonisation, finance and markets, technology, and monitoring and accountability.

How much has Bezos spent so far?

According to the Earth Fund's current figures:

Total commitment: $10 billion

Granted so far: $2.4 billion

Number of grants: 371

Programmes: 7

Share of commitment granted: about 24%

Still to be granted: about $7.6 billion

Deadline: 2030

Why the Pacific matters for Bezos

The Pacific projects are intended to protect ecosystems that support whales, sharks, sea turtles, coral reefs and fisheries, while also supporting communities whose food security and livelihoods depend on the ocean.

The Earth Fund's approach also reflects a shift towards Pacific-led conservation. With the second round of grants, 17 of the Pacific's 22 countries and territories are now involved in efforts to protect and sustainably manage their waters, according to the fund.

The high-seas component is particularly significant because the UN High Seas Treaty entered into force in January 2026, providing a new legal framework for creating marine protected areas in international waters.

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