#Cleantech and #ClimateChange #Podcast – Amazon’s (NASDAQ: $AMZN) $2 Billion Climate Pledge Fund – Can they do More?
Point Roberts WA, Delta BC, June 24. 2020 – (Investorideas.com Newswire) - Investorideas.com, a global news source and leading investor resource covering cleantech and renewable energy stocks (Renewableenergystocks.com) issues today’s edition of the Cleantech and Climate Change Podcast, talking about today's problems and solutions for the future.
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Read this in full at https://www.investorideas.com/news/2020/cleantech-climatechange/06241AMZN-ClimatePledgeFund.asp
Today, Investorideas.com is looking at news this week from Amazon (NASDAQ: AMZN) and its $2 Billion promise to address climate change. Earlier this year over 400 employees, part of the Amazon Employees for Climate Justice posted their quotes on Medium inciting the corporation to take real action
The $2 Billion is a large commitment but looking at their first quarter numbers, that we know are going to be even higher next quarter, it is a drop in the bucket. On April 30th the company reported net sales increased 26% to $75.5 billion in the first quarter, compared with $59.7 billion in first quarter 2019. Excluding the $387 million unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 27% compared with first quarter 2019.
Amazon (NASDAQ:AMZN) announced this week The Climate Pledge Fund to support the development of sustainable technologies and services that will enable Amazon and other companies to meet The Climate Pledge—a commitment to be net zero carbon by 2040. This dedicated venture investment program—with an initial $2 billion in funding—will back visionary carbon emissions. Amazon’s new Climate Pledge Fund will accelerate investment in innovations for the zero carbon economy of the future.
“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 Climate Pledge Fund will invest 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.
“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.”
Amazon also released its 2019 sustainability report and an update on the company’s sustainability goals and programs, including:
Amazon announced it’s on a path to run on 100% renewable energy by 2025, five years ahead of schedule. As part of The Climate Pledge, Amazon had previously committed to reach 80% renewable energy by 2024 and 100% renewable energy by 2030.
To date, Amazon has announced 91 renewable energy projects around the globe. Together, these projects totaling over 2,900 MW of capacity will deliver more than 7.6 million MWh of renewable energy annually, enough to power 680,000 U.S. homes.
Amazon made two investments from its $100 million Right Now Climate Fund in nature-based solutions and reforestation projects around the world, including a reforestation project in the Appalachians in the U.S. and an urban greening initiative in Berlin, Germany.
Since 2015, Amazon has reduced the weight of outbound packaging by 33% and eliminated more than 880,000 tons of packaging material, the equivalent of 1.5 billion shipping boxes.
I don’t know about you but packaging is one my biggest pet peeves. It drives me crazy when something arrives with so much packaging it’s a challenge just to get it open. I still see a lot of waste – we can do better.
So Amazon thanks for the $2 Billion but as we see the next quarter roll out maybe you can do more and donate more!
Thanks, that’s it for today. Do something good for this beautiful planet each and every day.
Podcast host: Dawn Van Zant, founder of Investorideas.com
If you would like to be a guest on this podcast and tell your story please call me at 800 665 0411
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