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Laurene Powell Jobs invests $3.5 bln in new climate-action group

·1 min read

Sept 27 (Reuters) - Billionaire philanthropist Laurene Powell Jobs is investing $3.5 billion in a new group aimed at addressing the climate crisis, a spokesperson for Emerson Collective, the organization she founded, said on Monday.

The Waverley Street Foundation "will focus on initiatives and ideas that will aid underserved communities who are most impacted by climate change," the spokesperson said.

The investment to be spent over the next 10 years will include climate-action solutions such as housing, transportation, food security and health, according to the spokesperson. Lisa Jackson, Apple Inc's vice president of Environment, Policy and Social Initiatives, has been tapped to chair the board of the foundation.

Jobs, widow of former Apple CEO Steve Jobs, conducts investing and philanthropic activities through Emerson Collective, while also advocating policies on education, immigration, climate, and cancer research and treatment. (Reporting by Bhargav Acharya in Bengaluru; Editing by Karishma Singh)