Amazon announced the creation of the Climate Pledge Fund to support the development of sustainable technologies and services.
The fund will help Amazon and other companies committed to combating climate change to achieve the targets of Climate Pledge, a commitment to zero net carbon emissions by 2040. This dedicated venture capital investment programme, with an initial allocation of $2 billion, will support innovative companies offering services and products to facilitate the transition to a zero-carbon economy.
Amazon and Global Optimism founded the Climate Pledge last year, a commitment to achieve the objectives of the Paris Agreement ten years in advance, zeroing net carbon emissions by 2040.
Verizon, Reckitt Benckiser and Infosys have joined the Pledge recently, sending an important signal to the market regarding the rapid growth of demand for products and services that help companies reduce carbon emissions. The new Climate Pledge Fund will further accelerate investment in innovations for the zero-carbon economy of the future.
Amazon’s founder and CEO Jeff Bezos said: • Climate Pledge Fund will invest in revolutionary and visionary entrepreneurs and innovators committed to creating low-emission products and services, which help companies reduce their own Companies from all over the world, of every dimension and at every stage of the life cycle, from newly-born start-ups to established companies will be taken into account. Any future investment will be judged on its potential to accelerate the path towards carbon zero and to help protect the planet for future generations.
The Climate Pledge Fund will invest in companies in different sectors, including transport and logistics; production, storage and use of energy; manufacturing and materials production; circular economy; agri-food and agriculture. As Climate Pledge Fund develops, Amazon will seek new opportunities to involve other Climate Pledge signatories in these investments.
The Commission notes that the Commission has not yet concluded that the measure is compatible with the internal market. Amazon has been committed to achieving 80% renewable energy by 2024 and 100% renewable energy by 2030 as part of Climate Pledge.
Amazon has announced 91 solar and wind energy projects worldwide. Together, these projects have the capacity to generate more than 2,900 megawatts (MW) and make available more than 7.6 million megawatts (MWh) of renewable energy per year, sufficient for the needs of over 680,000 homes in the United States.
Amazon has made two investments from its 100 million dollars Right Now Climate Fund for nature conservation solutions and reforestation projects around the world: a reforestation project in the Appalachians in the United States and an initiative to
From 2015 to today Amazon has reduced by 33% the weight of the packagings coming out and eliminated more than 880,000 tons of packaging materials, pairs to 1,5 billion of shipping boxes.