Amazon Announces $2 Billion Climate Pledge Fund to Invest in Companies Building Products, Services, and Technologies to Decarbonize the Economy and Protect the Planet

Amazon Announces $2 Billion Climate Pledge Fund to Invest in Companies Building Products, Services, and Technologies to Decarbonize the Economy and Protect the Planet
 
 
 
 
 
Amazon (NASDAQ:AMZN) today announced The Climate
Pledge Fund to support the development of sustainable
technologies and services that will enable Amazon and
other companies to meet The Climate Pledge—a
commitment to be net zero carbon by 2040. This dedicated
venture investment program—with an initial $2 billion in
funding—will back visionary companies whose products and
services will facilitate the transition to a zero carbon
economy.
Last year, Amazon and Global Optimism co-founded The
Climate Pledge, a commitment to reach the Paris
Agreement ten years early and be net zero carbon by 2040.
Verizon, Reckitt Benckiser (RB), and Infosys recently joined
the pledge—sending an important signal to the market that
there will be rapid growth in demand for products and
services that help reduce carbon emissions. Amazon’s new
Climate Pledge Fund will accelerate investment in
innovations for the zero carbon economy of the future.
“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,” said Jeff Bezos, Amazon
founder and CEO. “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.”
The Climate Pledge Fund will invest in companies in
multiple industries, including transportation and logistics,
energy generation, storage and utilization, manufacturing
and materials, circular economy, and food and agriculture.
Over time, Amazon will also look for opportunities to
involve other Climate Pledge signatories in this venture
investment program.
“Amazon has demonstrated its leadership in adopting low
carbon technologies at scale,” said Rivian CEO R.J.
Scaringe. “Their investment in Rivian and subsequent order
of 100,000 electric delivery vans will substantially shrink
the carbon footprint of Amazon’s package delivery network.
We’re excited about a future of decarbonized delivery services.”
Amazon today released its 2019 sustainability report and
an update on the company’s sustainability goals and
programs, including:
• Amazon announced it’s on a path to run on 100%
renewable energy by 2025, five years ahead of schedule. As
part of The Climate Pledge, Amazon had previously
committed to reach 80% renewable energy by 2024 and
100% renewable energy by 2030.
• To date, Amazon has announced 91 renewable energy
projects around the globe. Together, these projects totaling
over 2,900 MW of capacity will deliver more than 7.6
million MWh of renewable energy annually, enough to
power 680,000 U.S. homes.
• Amazon made two investments from its $100 million
Right Now Climate Fund in nature-based solutions and
reforestation projects around the world, including a
reforestation project in the Appalachians in the U.S. and an
urban greening initiative in Berlin, Germany.
• Since 2015, Amazon has reduced the weight of outbound
packaging by 33% and eliminated more than 880,000 tons
of packaging material, the equivalent of 1.5 billion shipping boxes.

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