The Bezos Earth fund has pumped billions into climate and nature projects

illuminem summarizes for you the essential news of the day. Read the full piece on The Guardian or enjoy below:

🗞️ Driving the news: Jeff Bezos’s $10bn Earth Fund has quickly become a significant player in climate and biodiversity efforts, awarding $2bn in grants
• However, experts are increasingly uneasy about the fund’s influence and its promotion of carbon offsets, which may conflict with genuine climate action

🔭 The context: Launched in 2020, the Bezos Earth Fund aims to distribute $10bn by the decade's end, supporting various environmental initiatives
• Despite its rapid financial contributions, there are concerns about its potential to dominate the environmental sector and the efficacy of the projects it funds

🌍 Why it matters for the planet: The reliance on carbon offsets, promoted by the Bezos Earth Fund, is controversial
• While supporters argue they help fund important environmental projects, critics contend they often fail to effectively reduce emissions and may facilitate greenwashing

⏭️ What's next: The internal debate within the Science Based Targets initiative (SBTi) over allowing carbon offsets has intensified scrutiny
• The outcome could significantly influence corporate climate policies and the future credibility of environmental standards

💬 One quote: “The projects of the Bezos fund do not address the key issues of the climate crisis – they are nice but unfortunately cosmetic,” said Dr. Stephan Singer, a global energy policy adviser

📈 One stat: The Bezos Earth Fund has given at least $45m to carbon markets initiatives so far, raising questions about the balance and focus of its funding

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