Amazon pledges to invest $2 billion in projects aimed at combatting climate change

Amazon has pledged to invest $2 billion on June 23 to support the development of technologies that are not only sustainable but will also enable the American multinational technology company along with other firms to combat the climate crisis. Calling it ‘The Climate Pledge Fund’, this move will encourage other companies to contribute to the commitment to be net-zero carbon by 2040 and ensure the facilitation. The Climate Pledge was an initiative co-funded by Amazon and Global Optimism as a commitment to reach the Paris Agreement ten years early along with attaining a net-zero carbon in the next 20 years.

The statement read, “Amazon today 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 $2 billion in funding—will back visionary companies whose products and services will facilitate the transition to a zero carbon economy,” it added.

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'All companies will be considered'

Amazon CEO Jeff Bezos has said that the fund will help the investors and ‘visionary entrepreneurs’ to reduce their carbon impact and shift their operations to more sustainable methods. He also ensured that all companies irrespective of their magnitude, across the globe, will be considered under The Climate Pledge Fund. The investments will be judged by its potential to speed up the path to attaining zero carbon and protect the environment. 

“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.

“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,” he added.

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Image Credit: AP