On Tuesday E-commerce giant Amazon announced to launch a $2 billion venture capital fund. The fund will focus on clean energy to promote sustainable development. As per reports by The Wall Street Journal.
“The climate Pledge fund” will be the name of the fund. Amazon will invest in companies working around transportation, energy sector, manufacturing, and food, and the agricultural sector.
CEO Jeff Bezos in his official statement added: “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 company has vowed to be carbon neutral by the year 2040.
Amazon delivers 10 billion items to its customers every year making them a leader in the eCommerce industry. Though the company has been facing protests by environmental activists and its own employees. Protestors were demanding the company to take actions against climate change.
Earlier in February 2020, Jeff Bezos announced a fund of $10 Billion to support scientists, activists, and other nonprofit groups fighting against climate changes.
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