INTELLIGENT BRANDS // Green Technology
Amazon announces US$2 billion
Climate Pledge Fund
Amazon has 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 US$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
10 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 start-ups 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. “Its
investment in Rivian and the 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 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 US. homes.
• Amazon made two investments from
its US$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 US. 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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