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Amazon's Bezos announces new climate fund

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Amazon's CEO Jeff Bezos is the latest US. billionaire to put his money into protecting the planet.

He pledged $10 billion dollars on Monday (February 17) to fund scientists, activists and nonprofits countering the effects of climate change.

An announcement said the fund will start issuing grants this summer.

The move follows Amazon's goal to be net carbon neutral by 2040 the first major corporation to announce such a goal.

But cutting the emissions will be challenging for a company that delivers 10 billion items a year.

It has a massive transportation and data center footprint and has faced protests by environmental activists and criticism from within its own workforce.

Bezos is currently the world's richest man with a net worth of $130 billion dollars.

With the new fund, he joins a growing list of billionaires putting money into the battle against the impact of global warming.

They include hedge fund manager Tom Steyer, Michael Bloomberg and Microsoft's Bill Gates.

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