Amazon (AMZN) CEO Jeff Bezos’ $10 billion initiative to support climate and nature solutions, Bezos Earth Fund, has ceased its funding for the Science Based Targets initiative (SBTi), the Financial Times reported. The SBTi is an organization that helps companies set climate goals.
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The move comes after some SBTi employees raised concerns about the potential influence of the Bezos Earth Fund on the organization.
Bezos’ Climate Efforts Curbed by Political Factors
The Financial Times also highlighted that this pullback could be aimed at avoiding friction with U.S. President Donald Trump, who has dismissed climate change as a hoax.
Further, the move also coincides with the U.S. government’s withdrawal from the Paris Agreement on climate action, suggesting a potential shift in the Bezos Earth Fund’s priorities.
Several tech leaders, including Bezos and Meta’s (META) Mark Zuckerberg, have made efforts to build ties with the Trump administration to ease pressures related to antitrust scrutiny, regulatory challenges, and AI policies. This shifting landscape has made companies more cautious about climate action.
Is AMZN a Good Stock to Buy?
Overall, AMZN stock has a Strong Buy consensus rating based on 39 Buys and one Hold assigned in the last three months. At $261.78, the average Amazon price target implies 8.15% upside potential. Shares of the company have gained 50.3% in the past six months.
