Amazon Starts $2B Climate Pledge Fund
June 23, 2020
made a 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.
“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.”
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.