Amazon launches the Climate Pledge Fund

As part of its commitment to be net zero carbon by 2040, Amazon has announced the Climate Pledge Fund to support ventures helping drive businesses towards net zero carbon. The initial $2bn funding pot is to back visionary companies whose products and services will help the transition to a net zero carbon economy.

Amazon co-founded The Climate Pledge alongside Global Optimism, a commitment to meet the Paris Agreement ten years early and to be net zero carbon by 2040. They rapidly signed up other corporate giants including Verizon, Infosys and Reckitt Benckiser, signalling there will be high demand for such technologies in the near future. The Climate Pledge Fund is there to help drive such innovation.

“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.”

The Amazon Climate Pledge Fund is to invest in multiple industries to include transportation and logistics, manufacturing, the circular economy, agriculture, and energy and storage. Amazon is now looking for partner investors into this fund.

“Amazon has demonstrated its leadership in adopting low carbon technologies at scale,” said Rivian CEO R.J. Scaringe. “Their investment in Rivian and subsequent order of 100,000 electric delivery vans will substantially shrink the carbon footprint of Amazon’s package delivery network. We’re excited about a future of decarbonized delivery services.”