Amazon Climate Pledge fund to invest in low carbon energy generation, storage firms

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Bezos said the fund would look to invest in  visionary entrepreneurs and innovators

Amazon’s multi-billion-dollar Climate Pledge Fund will help support low carbon technologies including those in energy generation and storage.

Last year the online retail giant unveiled its Climate Pledge, a commitment aimed at helping the world reach targets set within the Paris Agreements ten years earlier than planned and reach net zero by 2040.

That pledge was launched alongside Global Optimism, the Christiana Figueres climate advocate, while companies including Verizon, Reckitt Benckiser and Infosys have recently joined.

While Amazon remained quiet on the details of the pledge at the time, it has this week unveiled an initial tranche of funding – worth US$2 billion – which will be used to support “visionary companies” whose products and services can aid the net zero transition.

That fund will be used to invest in companies across multiple industries, with those involved in energy generation, storage and utilization being targeted specifically, Amazon has confirmed.

Amazon’s chief executive and founder Jeff Bezos said that companies of all sizes and locations would be considered for the investment.

“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.

“Each prospective investment will be judged on its potential to accelerate the path to zero carbon and help protect the planet for future generations,” he said.

Read Next

February 24, 2021
Microinverter supplier to use proceeds to repurchase notes due 2024 and 2025 as well as other corporate purposes
PV Tech Premium
February 18, 2021
Solar assets in Texas have continued to generate despite the weather, but policy remains a hurdle to them aiding the grid
February 15, 2021
Amazon, Google, and Verizon bought more renewable energy than any other corporations in the US, according to a new report, which also claims that utility-scale solar power is the most popular fuel in the corporate space.
February 15, 2021
Longroad Energy to acquire ~900MWdc of solar, with battery storage additions also to be considered.
February 11, 2021
Oil and gas major Shell has said it will spend between US$2 billion and US$3 billion on renewables and energy solutions annually to help it attain net zero status by 2050.
PV Tech Premium
February 8, 2021
Europe’s solar financing market is evolving at rapid speed, driven by changing dynamics and aided by technological advancements at the asset level. Here PV Tech re-caps the five most significant takeaways from the conference’s opening days.

Subscribe to Newsletter

Upcoming Events

Solar Media Events, Upcoming Webinars
March 9, 2021
Solar Media Events
March 17, 2021
Solar Media Events
April 13, 2021
Solar Media Events
April 20, 2021
Solar Media Events
May 11, 2021