Emerson Collective president Laurene Powell Jobs is investing $3.5 billion in her climate-action group, the Waverley Street Foundation, Axios reports.

According to an Emerson Collective official, the foundation "will focus on initiatives and ideas that will aid underserved communities who are most impacted by climate change." The funds will be invested over ten years in climate-action solutions in areas including housing, transportation, food security, and health, after which the organization will sunset.

"Each is a lever to help solve the climate crisis," the official told Axios.

Lisa Jackson, vice president of environment, policy, and social initiatives at Apple, who headed the Environmental Protection Agency during the Obama administration, will chair the Waverley Street Foundation board. A top executive leader will be named in the near future, while staffing and grantmaking have begun, the official said.