Amazon pledges $2 billion investment to fight climate change
Tech giant Amazon.com Inc said it would open a $2 billion venture capital fund that will be invested to minimize climate change impacts as well as promote sustainable growth.
Amazon said the Climate Pledge Fund would be used across industries such as transport and logistics, energy, storage and utilization, manufacturing and materials, and food and farming.
In a statement the e-commerce giant said the Climate Pledge Fund will support start-ups and other companies to “facilitate the transition to a zero-carbon economy.”
Amazon founder and chief executive Jeff Bezos said that the decision “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”,
“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.”
Many firms have joined the campaign including Verizon, Reckitt Benckiser, and Infosys.
Amazon said it works to run on 100 percent renewable energy by 2025 and by 2040 it would become carbon neutral.
The company will also look for investors to increase the fund used to “de-carbonize the economy and protect the planet.”
Bezos had earlier pledged about $10 billion in February to fund scientists, advocates, non-profits, and other organizations battling to protect the environment.
