Bezos Earth Fund Halts Support for Climate Standards Group

In a surprising turn of events, the Bezos Earth Fund, founded by Amazon's Jeff Bezos, has ended its support for the Science Based Targets initiative (SBTi). This move comes amidst growing concerns about the influence of the fund on the organization and the SBTi's decision to loosen rules for carbon credits. Let's delve into the implications of this withdrawal and its potential impact on the broader climate change mitigation efforts.



The Bezos Earth Fund's decision to halt its support for the SBTi is a significant blow to the organization, as it was one of the two main funders, along with the IKEA Foundation. The loss of this financial support could lead to budget cuts, reduced staff, or scaled-back operations for the SBTi. Moreover, the withdrawal of support from a high-profile funder like the Bezos Earth Fund could damage the SBTi's reputation and call into question its independence and credibility.

The SBTi plays a crucial role in helping companies set and achieve ambitious climate targets. A weakened SBTi could lead to a decrease in the number of companies setting science-based targets or a reduction in the ambition of these targets. This could have a significant impact on the global climate change agenda, as the private sector is a critical player in driving emissions reductions and transitioning to a low-carbon economy.