Commercial, GHG Emissions - June 23, 2020
Amazon to invest $2 billion into Climate Pledge Fund
Amazon announced June 23 that they are introducing a $2 billion investment into The Climate Pledge Fund, which will advance the development of sustainability solutions to accomplish the goals of The Climate Pledge’s target for net-zero carbon by 2040.
The Fund will invest in companies across industries such as transportation and logistics, energy generation, storage and utilization, manufacturing and materials, circular economy and food and agriculture. They plan to include the companies that have also signed The Climate Pledge, including most recent signatories Verizon and Infosys, in the venture investment program as the initiative grows.
“The Climate Pledge Fund will look to invest in the visionary entrepreneurs and innovators who are building products and services to help companies reduce their carbon impact and operate more sustainably,” Jeff Bezos, Amazon founder and CEO, said in a statement. “Companies from around the world of all sizes and stages will be considered, from pre-product startups to well-established enterprises. Each prospective investment will be judged on its potential to accelerate the path to zero carbon and help protect the planet for future generations.”
Additionally, Amazon announced today that they are on a path to achieve 100% renewable energy by 2025, five years ahead of schedule, and have 91 current renewable energy projects globally. The company has also made two investments from their $100 million Right Now Climate Fund into nature-based reforestation projects around the world.
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