Amazon CEO Jeff Bezos launched the Bezos Earth Fund on Monday and is pledging billions to fight climate change.
In an Instagram post, Bezos, the richest person in the world, said he is committing $10 billion "to start" and that he'll begin awarding grants this summer.
He said the money will be given to scientists, activists, NGOs and "any effort that offers a real possibility to help preserve and protect the natural world."
Bezos also called climate change the "biggest threat to our planet."
Thousands of Amazon employees have pressured Bezos to do more to protect the environment. Many of them even staged a walkout in September. Just a day before the walkout, Amazon pledged to go carbon-neutral by 2040 and said it will add 100,000 electric delivery vans to its fleet by 2024.
In response to Monday's announcement, Amazon Employees for Climate Justice said in a statement: "We applaud Jeff Bezos' philanthropy, but one hand cannot give what the other is taking away. The people of Earth need to know: When is Amazon going to stop helping oil & gas companies ravage Earth with still more oil and gas wells?"
Bezos has a net worth of about $130 billion.
Contains footage from CNN.