Five Years In, How Has The Bezos Earth Fund Used Its Billions? Ep192: Dr. Andrew Steer
Jan 15, 2025
auto_awesome
Dr. Andrew Steer, President and CEO of the Bezos Earth Fund, shares insights on leveraging $10 billion to combat climate change effectively. He discusses the balance between funding large NGOs and innovative startups, emphasizing collaboration. The conversation highlights initiatives like electrifying school buses and the significance of alternative proteins for sustainable agriculture. Steer reflects on navigating carbon markets and the importance of transparency and accountability in climate efforts, stressing the urgent need for a new mindset in the environmental movement.
The Bezos Earth Fund aims to effectively allocate $10 billion by 2030, focusing on impactful investments in climate change and biodiversity.
Empowerment of grassroots organizations is prioritized to enhance resilient, self-sustaining projects without creating dependency on continuous funding.
Artificial intelligence is leveraged to improve ecosystem monitoring and optimize agricultural practices, showcasing the potential of interdisciplinary climate solutions.
Deep dives
The $10 Billion Commitment and Its Aspirations
Jeff Bezos committed $10 billion to address climate change and biodiversity through his Earth Fund, which aims to be fully disbursed by 2030. The fund is designed to make impactful investments in climate and nature over a decisive decade, with a focus on low-carbon infrastructure and sustainable agricultural practices. As of 2025, roughly $2.5 billion has been allocated, with plans to scale up disbursements to maximize influence and results. The expectation is that by 2030, climate action will be integrated into broader societal practices rather than being viewed as a separate effort.
Philanthropy's Role in Driving Change
Effective philanthropy requires a balance of power and respect between funders and recipients, acknowledging that grantees possess essential knowledge and expertise. Understanding the dynamics of collaboration can lead to stronger partnerships and innovative solutions that do not create dependence on continuous funding. The Earth Fund seeks to empower smaller, grassroots organizations that often lack access to traditional funding sources, enabling them to mobilize resources effectively. Encouraging self-sustaining projects is a priority, as this fosters long-term impact and resilience.
Electrification of School Buses and Its Benefits
Electrifying school buses in the U.S. is a significant initiative that addresses both climate change and public health, as diesel school buses can expose children to harmful pollutants. With about 480,000 school buses operating nationwide, the project aims to convert these vehicles, benefiting children's health by reducing air pollution. Currently, around 12,000 electric buses are in operation, supported by legislative efforts and funding incentives. This transition not only promotes cleaner energy but also stimulates job creation within the electric bus manufacturing sector.
Synergies Between Climate and Nature Initiatives
The interconnection between climate action and nature conservation is vital, as both domains can benefit from collaborative strategies. The Earth Fund allocates resources to protect existing ecosystems, restore lost environments, and transform agricultural practices, recognizing that healthy ecosystems contribute to climate resilience. For instance, initiatives in Africa aim to restore millions of hectares of degraded land, improving agricultural productivity while sequestering carbon. Understanding and leveraging the synergies between nature and climate efforts enhances the overall impact of these investments.
The Role of Innovation and AI in Climate Solutions
Investments in artificial intelligence (AI) are being explored to enhance climate action initiatives, such as measuring and monitoring ecosystems and improving alternative protein production. AI technology can significantly aid in identifying species, assessing biodiversity, and optimizing agricultural practices. For example, AI can analyze environmental changes in real-time, offering timely data to inform decision-making and policy design. The Earth Fund aims to foster innovative solutions by funding projects that merge climate challenges with technological advancements, showcasing the potential of interdisciplinary approaches.
How can $10 billion be spent most effectively to address the climate and nature crises? What role can philanthropy play in driving systemic change? And how can new technologies like AI be leveraged to accelerate climate solutions?
This week on Cleaning Up, host Bryony Worthington sits down with Dr. Andrew Steer, President and CEO of the Bezos Earth Fund, to explore these critical questions. Established in 2020 with a $10 billion commitment from Jeff Bezos, the Bezos Earth Fund is on a mission to spend this capital by 2030 - the "decisive decade" for climate and nature.
Andrew shares insights into the fund's venture capital-inspired approach, balancing support for proven organisations and innovative newcomers. He delves into the delicate dance of respecting grantee expertise while providing strategic guidance, and the importance of avoiding dependence. The conversation covers the fund's diverse portfolio, from electrifying school buses to harnessing AI for nature monitoring and sustainable agriculture. Andrew also tackles the thorny issues of carbon markets and the need for a new mindset in the environmental movement.
Leadership Circle
Cleaning Up is supported by the Leadership Circle, and its founding members: Actis, Alcazar Energy, EcoPragma Capital, EDP of Portugal, Eurelectric, the Gilardini Foundation, KKR, National Grid, Octopus Energy, Quadrature Climate Foundation, SDCL and Wärtsilä. For more information on the Leadership Circle, please visit https://www.cleaningup.live.