Amazon invests $2 billion in its clean energy fund
Amazon is committing $2 billion to companies developing clean energy technology with its Climate Pledge Fund, the company announced Tuesday. The fund is one facet of Amazon’s Climate Pledge, which aims to eliminate the company’s net carbon emissions by 2040. While it’s perhaps another step in the right direction, the fund comes after years of criticism for Amazon’s less-than-sterling environmental track record.
The Climate Pledge Fund will invest in companies of all sizes and in multiple industries, including “transportation and logistics; energy generation, storage, and utilization; manufacturing and materials; circular economy; and food and agriculture,” Amazon said in a statement. Amazon hasn’t provided a timeline for selecting beneficiaries or distributing funds.