Amazon founder Jeff Bezos pledges $2bn for restoring landscapes
November 2, 2021, 3:42 pm

Amazon founder Jeff Bezos pledges $2bn for restoring landscapes

Secretary of Defense Ash Carter greets Jeff Bezos, Founder, Chairman & CEO of Amazon.com as he arrives at the Pentagon for a visit May 5 , 2016. (DoD photo by Senior Master Sgt. Adrian Cadiz/Facebook page)

The BBC reported, Amazon founder Jeff Bezos has said his Bezos Earth Fund will spend $2bn (£1.5bn) restoring landscapes and transforming food systems.

He told the COP26 climate conference in Glasgow that he had grasped nature's fragility when he travelled into space.

The BBC said that entrepreneurs including Mr Bezos have been criticised for spending money on trips into space instead of solving problems on Earth.

It mentioned that Amazon has also been criticised by its workers over environmental practices.

Speaking to the COP26 conference, Mr Bezos said: "In too many parts of the world, nature is already flipping from a carbon sink to a carbon source."

The Bezos Earth Fund plans to spend $10bn fighting climate change overall.

USA-New Orleans-Louisiana after hurricane Katrina/Pixabay

In Glasgow the founder of the world's biggest online retailer described the experience of travelling on his rocket ship, New Shepard, in July as a revelation of Earth's vulnerability.

He said: "I was told that seeing the Earth from space changes the lens from which you view the world but I was not prepared for just how much that would be true."

"Looking back at Earth from up there, the atmosphere seems so thin, the world so finite and so fragile. Now, in this critical year and what we all know is the decisive decade, we must all stand together to protect our world."

In September, the Bezos Earth Fund pledged $1bn towards conserving nature and indigenous peoples and cultures.

Announcing the follow-up $2bn pledge on Tuesday, Mr Bezos said that two-thirds of Africa's productive land was degraded but this could be reversed.

He told COP26: "Restoration can improve soil fertility, raise yields and improve food security, make water more reliable, create jobs and boost economic growth, while also sequestering carbon."

As well as Mr Bezos, Sir Richard Branson and Elon Musk are building up space businesses.

Last month, Prince William suggested entrepreneurs should focus on saving Earth rather than engaging in space tourism.

Amazon has also been criticised in the past by its workers over its record on climate change.

Last year, Amazon Employees for Climate Justice called on the online retail giant to achieve zero emissions by 2030, limit its work with fossil fuel companies, and stop funding for politicians and lobbyists who deny the existence of climate change.

In April this year, US labour officials found that Amazon retaliated illegally when it fired two employees who were part of the group.

Source: BBC

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.