Amazon launches a $2bn Climate Pledge Fund

Amazon has donated $2bn to the Climate Pledge Fund to support the development of sustainable technologies and services that will enable Amazon and other companies to be net-zero carbon by 2040.

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. Three global companies—Verizon, Reckitt Benckiser (RB), and Infosys have recently joined the pledge.

"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."

Amazon's new Climate Pledge Fund will accelerate investment in innovations for the zero carbon economy of the future. The fund will invest in companies in multiple industries, including transportation and logistics, energy generation, storage and utilization, manufacturing and materials, and food and agriculture.

Amazon also announced that it is on a path to run on 100 per cent renewable energy by 2025, five years ahead of schedule. As part of The Climate Pledge, Amazon had previously committed to reach 80 per cent renewable energy by 2024 and 100 per cent renewable energy by 2030.

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