The $10 billion Bezos Earth Fund has stopped funding the Science Based Targets (SBTi) initiative, a key organization that sets net zero standards for business. This happened amid growing attention to the fund’s influence on the organization and Bezos’ attempts to avoid conflict with Donald Trump.
This was reported by the Financial Times and UNN.
According to the publication, SBTi employees have previously expressed concern about pressure from Bezos’ foundation. In addition, the billionaire’s advisors and former US Special Representative for Climate Change John Kerry supported the idea of easing the rules for using carbon credits for business.
Sources suggest that the decision to stop funding SBTi after 2024 is due to Bezos’ desire to strengthen ties with the Trump administration, which is openly skeptical of climate change. Together with the heads of Meta and Google, he is trying to ease antitrust pressure on his business.
Despite the break with SBTi, the Bezos Foundation continues to support the Greenhouse Gas Protocol and the World Resources Institute, although the WRI is already assessing the possible consequences of financial changes.
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