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March 9 (UPI) -- Jeff Bezos on Tuesday named World Resources Institute CEO Andrew Steer to lead his $10 billion Earth Fund. "I am deeply honored to have been invited by @JeffBezos to become the first President and CEO of the $10B Earth Fund," Steer tweeted. "It will address climate, nature and environmental justice."
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Steer, who has a Ph.D. in international economics and finance, added that Bezos aims to spend the $10 billion to reach sustainable development goals by 2030.
"The Earth Fund will invest in scientists, NGOs, activists, and the private sector to help drive new technologies, investments, policy change and behavior," Steer said in another tweet. "We will emphasize social justice, as climate change disproportionately hurts poor and marginalized communities."
World Resources Institute is an environmental think tank that works with experts in over 50 countries to promote economic development while protecting the natural environment, according to its website.
The WRI received $100 million from the first round of Bezos' gifts to develop a system to track carbon emissions, and promote the use of electric-powered U.S. school buses, Bloomberg reported.
Steer has led the WRI for more than eight years, overseeing "an era of expanded growth, reach and impact," according to a statement.
Prior to joining WRI, Steer worked for the World Bank as special envoy for climate change.
Steer will leave the WRI to take on the new role as president and CEO of Bezos Earth Fund, the WRI statement said.
Manish Bapna, who currently serves as WRI's executive vice president and managing director, will serve as WRI's interim president and CEO.
Bezos announced Steer's hiring in an Instagram post featuring a photo of Steer.
"We're excited to announce that Dr. Andrew Steer has agreed to lead the Bezos Earth Fund as President and CEO," the post read. "Andrew has decades of experience in environmental and climate science as well as economic and social policy in the U.S., Europe, Asia, and Africa. Most recently, he has been President and CEO of World Resources Institute, where he leads over 1,400 experts working to alleviate poverty while protecting the natural world."
"Lauren and I are thrilled to have Andrew aboard and very energized about what lies ahead for the Fund and our partners," Bezos added in the post, referring to his girlfriend, Lauren Sanchez.
Bezos launched the Bezos Earth Fund in February of last year to issues grants for projects seeking to find new ways and promote existing ways to combat climate change.
In January, The Chronicle of Philanthropy announced that his $10 billion donation to launch the Earth Fund topped its list of 2020 donations as the largest single charitable donation publicly announced. According to a Chronicle tally, Bezos has given $790 million to at least 16 environmental groups through the fund.
According to Bloomberg Billionaires Index, Bezos' total net worth is $174 billion.
Bezos announced last month that he will step down from his position as CEO of Amazon. Bezos will transition to the role of executive chair and Andy Jassy will become the Amazon CEO at that time.
The transition is expected to turn Bezos' attention more to his other projects like the Bezos Earth Fund, his Blue Origin space company, The Washington Post and the Amazon Day 1 Fund, CNBC reported.
