Amazon.com Inc. is launching a $2 billion internal venture-capital fund focused on technology investments to reduce the impact of climate change, the latest sustainability initiative from the technology giant after criticism of its environmental record.
The new fund, which will be called The Climate Pledge Fund, will invest in companies across a number of industries, including transportation, energy generation, battery storage, manufacturing and food and agriculture, according to the company. The aim is to help Amazon and other companies reach a goal of "net zero" carbon emissions by 2040. Amazon and a number of other companies are seeking to reduce the climate impact of their operations, both through reduced use of fossil fuels and investments in projects such as reforestation.
