Amazon chief Bezos, who is considered the richest man in the world with a net worth of some $130 billion, earlier said his company was determined to become carbon-neutral by the year 2040.

Jeff Bezos has announced he is investing $10 Billion in the fight against climate change with the newly launched Bezos Earth Fund.

In an Instagram post on Monday, Bezos said that the new initiative would provide funding for scientists, activists, and non-governmental organisations to explore ways to fight climate change, with the Amazon CEO claiming that "collective action" was needed to preserve the environment.

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Today, I’m thrilled to announce I am launching the Bezos Earth Fund.⁣⁣⁣ ⁣⁣⁣ Climate change is the biggest threat to our planet. 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. This global initiative will fund scientists, activists, NGOs — any effort that offers a real possibility to help preserve and protect the natural world. We can save Earth. It’s going to take collective action from big companies, small companies, nation states, global organizations, and individuals. ⁣⁣⁣ ⁣⁣⁣ I’m committing $10 billion to start and will begin issuing grants this summer. Earth is the one thing we all have in common — let’s protect it, together.⁣⁣⁣ ⁣⁣⁣ - Jeff

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The announcement comes amid recent calls from inside Amazon to do more on the issue of climate change. In late January, more than 350 employees, united under the "Amazon Workers for Climate Justice", slammed the company's climate policies and demanded Amazon spend more money on saving the environment, according to Business Insider. One of the demands of the group was for the company to reach carbon-neutrality by 2030.