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Amazon Pledges $2 Billion To Invest In Climate Change



Amazon investment takes on a new form from being a purely business enterprise to a venture on environmentally relevant deals. By appropriating over $2 billion pledge of investments tagged as “climate pledge fund”, it aims to make significant environmental impact. The share will be directed to companies that help de carbonize the economy by the kind of products, services and technologies offered and used.

Co-founding with Global Optimism, Amazon, through the Climate Pledge, is looking at a net-zero carbon by 2040. This is, of course, in consonance with the Paris Agreement goal set a decade ago. Other companies like Verizon, Reckitt Benckiser and Infosys also joined the pledge and are now one with Amazon in supporting businesses that promote the zero-carbon economy.

Jeff Bezos, Amazon Founder and CEO, is hopeful that with their move to put investments on environment-friendly businesses, big or small, they will be playing their part in promoting reduction of carbon impact and sustainability among entrepreneurs , and help preserve the environment for the future.

In the coming days, expect that Amazon will be considering business around the world to pour investments into. Among the priority fields are Transportation and logistics; Energy Generation, Storage, and Utilization; Manufacturing and Materials; Circular Economy; and, Food and Agriculture .

By joining the Climate Pledge, the companies vow to maximize efforts to eliminate carbon emission and adhere to the membership guidelines that are focused on supporting environmental protection measures like: 1. Regular measuring and reporting of greenhouse emissions; 2. Implementation of strategies on decarbonisation conforming with the Paris Agreement; and 3. Taking action to neutralize remaining emissions.

At its end, Amazon commits to achieve zero-carbon operations by 2040 by banking on reforestation projects, using 100% renewable energy in its operations, using EVs for deliveries. In fact, to show how serious it is with the project, it already placed investment to Rivian and ordered 100,000 electric delivery vans that will considerably lessen the carbon footprint of its delivery network. Further, as shown in its Sustainability Report in 2019, of its target initiatives for 100% renewable energy goal, 80% is hoped to be achieved by 2024 and the 100% in 2030; it finances 91 renewable energy projects worldwide; got a couple of investments costing $100 M for Right Now Climate Change; and works really hard for the reduction of its outbound package weight and eliminated thousand tons of packaging materials.

We should understand that if companies like Amazon which, because of so much money they are making can easily turn cold shoulders to issues confronting nature, still manage to challenge and change deeply entrenched business processes and habits for the sake of saving the environment, we all can also give our share for the cause. There is no small or big effort, if it is saving our future is concerned. It is a task that requires whatever little selfless contribution each of us can give.



Amazon Pledges $2 Billion To Invest In Climate Change Amazon Pledges $2 Billion To Invest In Climate Change Reviewed by Tim on July 17, 2020 Rating: 5

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