Amazon Launches $2 Billion Fund To Invest In Climate Change

Washington, D.C., June 24 : Amazon.com Inc. (NASDAQ: AMZN) hopes the world can innovate its way out of climate change and it will throw some serious cash at the problem to that end, the company said Tuesday.

The company will drop $2 billion into a “Climate Pledge Fund,” which will support “visionary companies whose products and services will facilitate the transition to a zero carbon economy,” it said in a blog post.

This may also be a bit of a thumb in the eye to Microsoft Corp. (NASDAQ: MSFT), which in January promised to put $1 billion toward carbon capture technology.

Companies of all sizes will be able to get these dollars for technologies and inventions in all stages of development, according to a statement from CEO Jeff Bezos.

Each potential investment will be rated based on the company or technology’s ability to contribute to a zero carbon world. But, the company will have a particular focus on applicants’ potential to reduce Amazon’s and other companies’ carbon emissions, a company spokesperson added.

This is a follow-up to Bezos’s commitment in 2019 to that Amazon will be a net-zero carbon emissions company by 2040.

“The Climate Pledge Fund will look to invest in the visionary entrepreneurs and innovators who are building products and services to help companies reduce their carbon impact and operate more sustainably,” Bezos — who already pledged $10 billion of his personal wealth towards a similar goal —  said in a statement. 

But a dying planet aside, there are more Amazon headlines to parse through. So let’s get into it once again for the company that could, but hasn’t, picked up the critically acclaimed Underground Railroad-set series “Underground” after it was canceled — but is developing another eight episodes of “Hanna.” You know, because our culture is starved for stories about super soldier programs gone awry.

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