First he announced Amazon’s plan to achieve zero emissions by 2040. Then he created a $ 10 billion fund to finance scientists, activists and NGOs against climate change. But Jeff Bezos, founder and CEO of Amazon, seems to want to do more for the environment. Yesterday it launched a new two billion dollar fund to “decarbonise the economy and protect the planet”. It is called the Climate Pledge Fund.
The new fund “will invest in visionary and innovative entrepreneurs who are building products, services and technologies to help companies reduce their carbon footprint and operate more sustainably,” Bezos explained.
“We will take into consideration companies from all over the world, of all sizes and phases, from newly created startups to established companies”. And from different sectors: transport, logistics, circular economy, energy, food, agriculture. The investments will be defined based on the company’s potential “to accelerate the path towards zero carbon and protect the Earth for future generations”.
Yesterday, the e-commerce giant also released the 2019 sustainability report, updating its objectives and plans for the future. In particular, the company aims to use only 100% renewable energy sources by 2025, five years ahead of schedule. In 2019, Amazon has already launched 91 “green” energy projects around the world. It funded reforestation plans in the United States and urban greening in Berlin.
The commitment of companies to zero emissions
For the Climate Pledge, Jeff Bezos refers to the United Nations Paris Agreement (UNFCCC), which provides for the reduction of greenhouse gases by 2050. But the entrepreneur wants to anticipate the heads of state by a decade, proposing to other companies to sign the same commitment. Signatory companies are committed to measuring and reporting their emissions, reducing them with business innovations (for example, greater use of renewables) and achieving zero emissions by 2040.
“We have stopped being in the flock on this issue: we have decided to use our size to make a difference,” Bezos said last September.
“If a company with physical infrastructure like Amazon’s, which delivers more than 10 billion products a year, can meet the Paris Agreement goals 10 years early, then any company can do it.”