Amazon Makes VC Investments as Part of Green Goals
The first venture capital investments in green companies from Amazon’s $2 billion Climate Pledge Fund, announced Thursday, are “our first round” of cash infusions, Head-Worldwide Sustainability Kara Hurst told an Axios webinar Thursday. “We’re going to continue to look at…
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what kinds of companies and technologies will have a direct impact on Amazon." Amazon and green group Global Optimism co-founded the fund to support sustainable businesses and technologies that will help meet the company's commitment of becoming “net-zero carbon” by 2040. AT&T, meanwhile, targets carbon neutrality by 2035 (see 2009170025). Amazon recently revised its forecast of becoming 100% reliant on renewable energy by 2025, five years earlier than the previous projection, because “where we can go faster, we can accelerate,” said Hurst. “We’re going very big in wind and solar. We’ve done over 91 projects to date. We’ll just continue to ramp up." The e-tailer also has studied ways of making packaging more climate-friendly for more than a decade, she said.