Amazon's Bezos pledges $10 billion to climate change fight

 

FILE PHOTO: Founder, Chairman, CEO and President of Amazon Jeff Bezos speaks during an event about Blue Origin's space exploration plans in Washington, U.S., May 9, 2019. REUTERS/Clodagh Kilcoyne

 

NEW YORK (Reuters) - Amazon Chief Executive Officer Jeff Bezos will commit $10 billion to fund scientists, activists, nonprofits and other groups fighting to protect the environment and counter the effects of climate change, he said on Monday.

 

Bezos, who is the world's richest man, is among a growing list of billionaires to dedicate substantial funds towards combating the impact of global warming.

 

"Climate change is the biggest threat to our planet," Bezos said in an Instagram post. "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."

 

The Bezos Earth Fund will begin issuing grants this summer as part of the initiative.

 

"It's going to take collective action from big companies, small companies, nation states, global organizations, and individuals," Bezos said.

 

Counteracting climate change has become a popular cause for U.S. billionaires in recent years, with Microsoft's Bill Gates, Michael Bloomberg and hedge fund manager Tom Steyer counted among the world's wealthiest environmental philanthropists. Last year, Bezos pledged to make online retailer Amazon net carbon neutral by 2040 - the first major corporation to announce such a goal - and to buy 100,000 electric delivery vehicles from U.S. vehicle design and manufacturing startup Rivian Automotive LLC.

 

Bezos also said at the time that Amazon would meet the goals of the Paris climate accord 10 years ahead of the accord's schedule and invest $100 million to restore forests and wetlands.

 

Cutting emissions related to Amazon, which delivers 10 billion items a year and has a massive transportation and data center footprint, will be challenging.

 

The company has faced recent protests by environmental activists in France and rising pressure from its own employees to take action on climate change.

 

(Reporting by Laila Kearney; additional reporting by Rama Venkat in Bengaluru; Editing by Sonya Hepinstall)

 

-- © Copyright Reuters 2020-02-18

Follow Thaivisa on LINE for breaking Thailand news and visa info

Lessens the cries of Amazon doesn't pay taxes and should be taxed. There is 10 large stop crying. Pretty much all big companies are doing this now. Microsoft announced they will not only be carbon neutral with in a decade or so but by 2050 will have erased all carbon they ever used. Whatever that means lol. I guess it means don't come looking for Microsoft  to buy carbon credits.

 

Maybe the government should follow the corporate lead and clean their own acts up.

 

 

Translate that to Bezos has created a new fund to dodge taxes while doing some major league virtue signalling.

 

3 minutes ago, canuckamuck said:

Translate that to Bezos has created a new fund to dodge taxes while doing some major league virtue signalling.

 

It's also good their stock. As a shareholder I like when my positions become green friendly with a good environment, social, governance score ESG. Now it gets added to the pickiest granola crunchers mutual funds. Lord knows people pay more for anything green.

Edited February 17, 20206 yr by Cryingdick

And Greta no doubt, will think she's been influential in Amazon's decision.

 

11 billion USD profit & no federal taxes paid.

Well kudos mr Bezos and btw just what is the carbon footprint for all of your delivery’s I’ll bet it’s enormous that beeing said kudos just the same find that guy or gal that can figure out a way to store the renewables so it’s practical imo thats the key to lowering all of our carbon footprint 

5 minutes ago, Tug said:

Well kudos mr Bezos and btw just what is the carbon footprint for all of your delivery’s I’ll bet it’s enormous that beeing said kudos just the same find that guy or gal that can figure out a way to store the renewables so it’s practical imo thats the key to lowering all of our carbon footprint 

 

You could look at it another way. Think of Amazon like mass transport for goods. I for example live a little over 20 miles to the shopping center. Anytime I can get something from Amazon it saves a 45 mile round trip drive. So every time you see an Amazon truck go by you have to count the number of drives that saves. 

 

Also having no retail store also saves a chunk. It doesn't go from fulfillment center to Walmart or similar set up. It's more efficient it eliminates that piece.

 

 

 

 

Edited February 17, 20206 yr by Cryingdick

2 minutes ago, Cryingdick said:

 

You could look at it another way. Think of Amazon like mass transport for goods. I for example live a little over 20 miles to the shopping center. Anytime I can get something from Amazon it saves a 45 mile round trip drive. So every time you see an Amazon truck go by you have to count the number of drives that saves. 

 

 

 

 

Or think of it this way one item at a time that beeing said I’m sure amazon would go full electric if it was practical that dinosaur juice is so convenient small easy to carry easy to replenish (and I’m aware it creates lots of jobs)

Just now, Tug said:

Or think of it this way one item at a time that beeing said I’m sure amazon would go full electric if it was practical that dinosaur juice is so convenient small easy to carry easy to replenish (and I’m aware it creates lots of jobs)

 

The trucks never deliver one item at a time. That's why it is like using the bus. Amazon is leading the charge so to speak into electric vehicles they have made a huge investment into Rivian Electric vehicle company.  If you want a world where people don't need cars Amazon is a company that is essential to this.

Would rather he just paid his taxes, paid his workers decent money and stopped the Victorian workshop mentality in his distribution centres... but I guess that is asking for too much

40 minutes ago, PremiumLane said:

Would rather he just paid his taxes, paid his workers decent money and stopped the Victorian workshop mentality in his distribution centres... but I guess that is asking for too much

 

The warehouse jobs are stressful because it is a time sensitive job. Try working for the post office, a place so nice to work that if you killed your coworkers or yourself it was called going postal.

 

Also people claim Amazon doesn't pay its taxes. Now you are saying Bezos doesn't? When he sells stock he will pay 15%-25% capitol gains. If you have ever owned shares and sold them at a profit you pay tax on the profits. 

 

So as his stock position is held long he will pay 15% or $1.5 billion on $10 billion. So to get the $10 billion he had to sell $11.5 billion before he gives the left over $10 billion away. How much tax do you pay?

Edited February 18, 20206 yr by Cryingdick

2 hours ago, faraday said:

And Greta no doubt, will think she's been influential in Amazon's decision.

 

11 billion USD profit & no federal taxes paid.

Triggered.

6 minutes ago, Chomper Higgot said:

Triggered.

Not in the slightest.

A post has been removed, Please use only a persons real name when referring to public figures or politicians etc. Failure to do so could see your post removed as it leads to confusion and flames later on.

3 hours ago, englishoak said:

just another tax avoiding siphon scheme

better invest in environment than in self serving useless politcians

If I had the choice to opay for environment or taxes I knew what to do

Edited February 18, 20206 yr by sweatalot

The issue of tax dodging needs fixing. As others point out, Amazon (and other corporates) pay taxes due under the existing tax regime.

 

However corporates have payed a role in dictating to governments the tax regimes they, the corporates, want, even to the point of governments lobbying on behalf of the corporates. The US statements wrt UK digital business taxes is an example.

 

The underlying problems is tax laws have not kept pace with new business practices.

 

The EU CCCTB is a step in the right direction in that it requires businesses to pay taxes at the point of transaction ( defined as where the customer is).

 

But business property rates need revising too. High street business are being wiped out by online businesses, in a large part to the disparity in business rates between the High street properties and out of town dispatch centers.

 

High street rates are determined on the basis of ‘access to the market’, it is past the time for online businesses to pay business rates on the same basis ‘access to market’.

 

 

Edited February 18, 20206 yr by Chomper Higgot

5 minutes ago, Chomper Higgot said:

The issue of tax dodging needs fixing. As others point out, Amazon (and other corporates) pay taxes due under the existing tax regime.

 

However corporates have payed a role in dictating to governments the tax regimes they, the corporates, want, even to the point of governments lobbying on behalf of the corporates. The US statements wrt UK digital business taxes is an example.

 

The underlying problems is tax laws have not kept pace with new business practices.

 

The EU CCCTB is a step in the right direction in that it requires businesses to pay taxes at the point of transaction ( defined as where the customer is).

 

But business property rates need revising too. High street business are being wiped out by online businesses, in a large part to the disparity in business rates between the High street properties and out of town dispatch centers.

 

High street rates are determined on the basis of ‘access to the market’, it is past the time for online businesses to pay business rates on the same basis ‘access to market’.

 

 

 

So a business in an out of town location should pay the same as a high street retailer? Please clarify what you mean. 

15 minutes ago, Cryingdick said:

 

So a business in an out of town location should pay the same as a high street retailer? Please clarify what you mean. 

Both businesses are selling to ‘the market’.

 

The advent of online business has made obsolete the idea that ‘access to the market’ is found on the High Street.

 

Hence taxing businesses on the high street at a higher rate no longer makes any sense.

 

Convesely taxing businesses out of town at a lower rate no longer makes sense.

 

The location is not an indicator of how much market access a business has.

 

An alternative metric is required to determine business rates.

 

 

 

 

Edited February 18, 20206 yr by Chomper Higgot

It is no the role of rich people who pay disproportionately low rates of tax to decide where to direct their 'benevolence'. If governments had the backbone to tax him and his company properly, making them pay in the same manner that the little people have to pay, then we would not need to rely on his photo-opportunity faux largesse.

LOL thank you generous Bezos. Will you also help the unemployed that Amazon created?

Well, he made his money by exploiting environments. 

And now he gives back a dime. 

I hope other tycoons may follow. ????

For a little added perspective. Bezos increased his wealth by $13.5 Billion in a 15 minute period a couple of weeks ago.

 

 

 

 

 

Edited February 18, 20206 yr by lannarebirth

A tale of two billionaires. One pledge charitable donations to fight climate change while the other was ordered by the court to pay 2 M fine for misusing funds from his charity foundation. 

Probably no coincidence this comes after news of a multi hundred million plus house buy followed by more slave labor amazon press.  These philanthropists are a joke if you actually figure it out it is more of a sacrifice for a poor man to give a bit then these tycoons to give a lot all based on proportions of their income.  A great deal of philanthropy has become little more than a positive press endeavor for the naive masses.  Let's not forget Bezos is originally a wall street guy and its wall street stands to make billions or trillions from carbon trading.

Edited February 18, 20206 yr by tlandtday

 

 

It's hardly surprising that billionaires like Bezosand Gates are tossing their small change into the hats of deranged climate alarmists.

 

As the "green" fourth industrial revolution unfolds, these technocrats are likely to end up running not just mega companies but the entire world.

 

The fate of the rest of us is to be decanted into hi-tech "smart cities" where we will be monitored and controlled around the clock and own . . . nothing.

 

https://www.weforum.org/agenda/2016/11/shopping-i-can-t-really-remember-what-that-is/

11 hours ago, Krataiboy said:

It's hardly surprising that billionaires like Bezosand Gates are tossing their small change into the hats of deranged climate alarmists.

 

As the "green" fourth industrial revolution unfolds, these technocrats are likely to end up running not just mega companies but the entire world.

 

The fate of the rest of us is to be decanted into hi-tech "smart cities" where we will be monitored and controlled around the clock and own . . . nothing.

 

https://www.weforum.org/agenda/2016/11/shopping-i-can-t-really-remember-what-that-is/

Even beyond what Orwell had anticipated.  The wrong people have been running the planet for the last one hundred years.

"A fool and his money are soon parted".

10 minutes ago, howbri said:

"A fool and his money are soon parted".

totally agree ... what an absolute waste of 10 billion dollars, that much money would go along way to creating sustainable crops and agricultural projects for the poor and impoverished.