Amazon will launch a $2 billion venture capital fund that will focus on technology investments to reduce the impact of climate change and support sustainable development, joining a growing number of climate-focused funds announced in recent years:
2016: $1b from Oil and Gas Climate Initiative
2016: $1b from Breakthrough Energy Ventures
2020: $1b from Microsoft to go carbon negative
2020: $10b as the Bezos Earth Fund
2020: $2b as Amazon's Climate Pledge Fund
The new 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.
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Each prospective investment will be judged on its potential to accelerate the path to zero carbon and help protect the planet for future generations,” Chief Executive Officer Jeff Bezos said in a statement.