Bezos Earth Fund has stopped funding the Science Based Targets initiative, one of the world’s leading climate certification bodies, amid growing fears that billionaire commitments to climate action are shifting under President Donald Trump’s administration.
The Earth Fund was one of two primary funders of SBTi, alongside the Ikea Foundation, together accounting for 61% of the initiative’s funding in 2023. While spokespeople from both organizations stated that the $18 million grant was a three-year commitment that ended as planned, experts fear the decision reflects a broader trend of corporate and billionaire withdrawal from climate initiatives due to political pressure.
Professor Doreen Stabinsky, a technical council member for SBTi, said she believes Bezos is falling into line with the Trump administration’s climate policies. She cited as evidence his move to stop the editorial board at The Washington Post from endorsing candidates.
The move comes as Trump’s administration has issued executive orders cutting federal climate funding and removing references to climate change from government websites. In a related trend, the six largest US banks exited a global net-zero banking initiative before Trump took office.
According to Kelly Stone, a senior policy analyst for ActionAid USA, the move is “part of a corporate retreat from climate pledges”, while nonprofit Pivot Point warned that those investments “will suffer” from this decision.
SBTi faced internal controversy last year after proposing to allow carbon offsets for indirect emissions, a move some believed was influenced by the Bezos Earth Fund. While the fund stated it has not ruled out future support, the withdrawal signals uncertainty for corporate climate commitments in the current political climate.
