Amazon launches $2 billion fund to promote sustainability

The e-tail giant is introducing the Climate Pledge Fund, a dedicated venture investment program designed to support the development of sustainable technologies and services. Amazon hopes the fund will enable it and other companies to meet The Climate Pledge, a commitment to be net-zero carbon by 2040.

Amazon is providing initial funding of $2 billion to back visionary companies whose products and services will facilitate the transition to a zero-carbon economy. In 2019, Amazon and climate change network 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.

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.

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