{"id":31027,"date":"2020-06-24T11:20:00","date_gmt":"2020-06-24T11:20:00","guid":{"rendered":"https:\/\/icrowdnewswire.com\/?p=2614552"},"modified":"2020-06-24T11:20:00","modified_gmt":"2020-06-24T11:20:00","slug":"amazon-to-launch-2-billion-venture-capital-fund-to-invest-in-clean-energy","status":"publish","type":"post","link":"http:\/\/ipsnews.net\/business\/2020\/06\/24\/amazon-to-launch-2-billion-venture-capital-fund-to-invest-in-clean-energy\/","title":{"rendered":"Amazon to Launch $2 Billion Venture Capital Fund to Invest in Clean Energy"},"content":{"rendered":"
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Tech giant plans to invest in transportation, energy, food and other industries<\/h2>\n<\/div>\n<\/div>\n<\/header>\n
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Amazon<\/a>.<\/span> AMZN 1.86% <\/a>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.<\/p>\n

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.<\/p>\n

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“Companies from around the world of all sizes and stages will be considered, from pre-product startups to well-established enterprises,” Amazon Chief Executive Jeff Bezos said in a statement. “Each prospective investment will be judged on its potential to accelerate the path to zero carbon and help protect the planet for future generations.”<\/p>\n

Amazon didn’t provide a time horizon for the $2 billion, which it described as “initial funding” that could grow over time. With the fund, Amazon would become a significant corporate player in new energy investing, which has risen significantly in the last decade.<\/p>\n

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Global venture capital and private-equity investments in clean energy reached $10.5 billion in 2019, up 6% from the previous year and the highest since 2010, according to BloombergNEF. Investments in new energy ventures and climate change mitigation strategies come from a variety of sources, including traditional venture capitalists, billionaires, governments and companies in energy, automobile and technology industries.<\/p>\n

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