Amazon Announces First Recipients Of Investments From $2 Billion Climate Pledge Fund
Amazon (NASDAQ:AMZN) today announced the first recipients of investments from The Climate Pledge Fund: CarbonCure Technologies, Pachama, Redwood Materials, Rivian, and Turntide Technologies, according to the company's official press release. The Climate Pledge Fund is a dedicated $2 billion venture investment program backing sustainable technologies and services that will help Amazon and other companies to meet The Climate Pledge—a commitment to be net-zero carbon by 2040.
“The Climate Pledge Fund invests in visionary companies whose products and services can empower a low carbon economy,” said Jeff Bezos, Amazon founder and CEO. “Today, I am excited to announce that we are investing in a group of companies that are channeling their entrepreneurial energy into helping Amazon and other companies reach net zero by 2040 and keep the planet safer for future generations.”
The Climate Pledge Fund is investing in companies in multiple industries, including transportation and logistics, energy generation, storage and utilization, manufacturing and materials, circular economy, and food and agriculture. Over time, Amazon will also look for opportunities to involve other Climate Pledge signatories in this venture investment program and help them find solutions to help them reach net zero carbon by 2040.
“The Climate Pledge Fund is another important example of how the collaborative effort of The Climate Pledge can accelerate the transition to a net zero world. These investments will scale new technologies, helping these organizations speed up the pace at which operational emissions can be reduced,” said Christiana Figueres, the UN’s former climate change chief and founding partner of Global Optimism. “This is how a whole-economy approach to tackling the climate crisis looks. Together these companies demonstrate that there are endless possibilities in the clean, healthy recovery we must create together.”