The CEO of Amazon Jeff Bezos has announced that he will invest $10 billion into the climate crisis.

Jeff Bezos has revealed that he will be investing $10 billion into the climate crisis with a new Bezos Earth Fund. The fund will begin issuing grants this summer.

Jeff Bezos took to Instagram to announce the new fund. He said: “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.”

Bezos, the richest man in the world, has a net worth of $129.9 billion, according to Business Insider. They say that the $10 million investment is 7.7 per cent of his worth.

Last year, Amazon announced that they aim to be net zero by 2040, to align with goals set at the Paris Agreement.

The technology company said they will invest $100 million in reforestation projects around the world to begin removing carbon from the atmosphere and creating economic opportunity for thousands of people.

They also ordered 100,000 electric vehicles to expand their sustainable delivery fleet. This move will help towards becoming 100 per cent renewable by 2030.