Jeff Bezos says he's committing $10 billion to fight climate change

(Bloomberg) - Amazon.com Inc. founder Jeff Bezos is starting the Bezos Earth Fund to help counter the effects of climate change.

Bezos said he's starting with $10 billion and will begin to issue grants this summer. "It's going to take collective action from big companies, small companies, nation states, global organizations and individuals," he said in a post on Instagram. "We can save Earth."

Amazon has been recently criticized for the environmental costs of the conveniences it provides -- especially with quick shipping and what advocates say is wasteful packaging.