Amazon launched a $2 billion fund to invest in climate change by skleb1234
plans for an internal Climate Pledge Fund that will invest in companies across a range of different industries, including transportation, energy, battery storage, manufacturing and food and agriculture.by CEO Jeff Bezos last September, with the goal of getting the company to “net zero” carbon emissions by 2040.
As part of that promise, the company also hopes to meet the carbon-reduction goals of the Paris Climate Agreement by 2040, ten years ahead of schedule; President Trump pulled the U.S. out of the agreement back in 2017.while its net sales increased 22% in 2019, its total carbon footprint increased 15% during the same period.
The new Climate Pledge Fund will “support the development of sustainable and decarbonizing technologies” by investing in “visionary companies whose products and solutions will facilitate the transition to a low-carbon economy,” Amazon said in aAmazon described the fund’s $2 billion as “initial” funding that could grow over time, though the companyTuesday that it expects to run on 100% renewable energy by 2025—five years ahead of schedule .
. “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 and Bezos have faced criticism in the past over sustainability and climate change policies. Amazon, which delivers over 1 billion packages per year, has subsequently been criticized for its vast carbon l footprint.
at the time—toward a new “Earth Fund” that will issue grants to scientists and other organizations hoping to “preserve and protect” the natural world.
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