Jeff Bezos promised to donate 10,000 million to charitable foundations. He is very, very far from that figure

Making donations is an excellent marketing tool for millionaires that helps improve the public image of that 1% of the population. Jeff Bezos promised that he was going to make a great contribution since his foundation, but that is not enough: promises must be kept.

millionaires and foundations. Personal philanthropic activity by billionaires has long since dwindled to anecdotal levels, but its place has been taken by their foundations. These foundations act as an investment fund that considers impact investments to finance social or environmental development projects. “Billionaires cannot be expected to fill the climate finance gaps left by rich countries that fail to deliver on promises to the developing world,” said the director of the Bezos Earth Fund.

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At the beginning of 2020 Jeff Bezos announced the creation of the Bezos Earth Fund, in which he promised an investment of 10,000 million dollars for climate projects. It sounds like a considerable sum, however it is only a small contribution to achieving the goal of net zero by 2050.

1,600 million in sustainable development. According to its website, the Bezos Earth Fund Foundation works so that humanity does not have to choose between development or the environment, offering tools to reduce the environmental footprint of industrialization.

Of the 10,000 million dollars promised, the foundation has only allocated 1,600 million dollars in a total of 100 projects with which the climate problem is faced from different fronts and in different parts of the planet: from the Congo basin, the tropical Pacific oriental, the United States or, of course, the Amazon.

The foundation allocated 578.3 million dollars in projects for climate conservation and preservation of ecosystems and their biodiversity at risk due to environmental pressure, but also allocated funds to food security, sustainable financial development projects and environmental research.

Project

Investment (in millions of dollars)

Climate change

578.31

Food safety

80.4

environmental justice

301.4

decarbonization

388.3

Economy, finance and markets

33.5

Technological innovation

80

Science for monitoring, data and environmental responsibility

73.93

diversify aid. Despite the fact that the Bezos initiative has not yet fulfilled its promises, there is still room to fulfill them since 2050 had been set as the reference point to reach that investment figure. However, the billionaire has diversified his basket of philanthropic investments in other noble causes, although he is not very given to sharing his philanthropic projects with other millionaires.

the enemy at home. It is at least paradoxical that the business that has generated the enormous fortune of the environmental philanthropist is, in turn, the main exponent of a highly polluting business model. So much so that even its workers have organized protests against Amazon for climate justice.

A business model based on road logistics that does not fully meet the promises to electrify your fleetwith an implementation of renewable energies of only 17% of the consumption of its data centers and that every year it generates 15 million tons of CO2, the equivalent of Estonia’s annual spending.

Given the manifest inconsistency, Jeff Bezzos has announced your roadmap to comply with the Paris Agreements and drastically reduce Amazon’s carbon footprint by 2040.

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Jeff Bezos promised to donate 10,000 million to charitable foundations. He is very, very far from that figure