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Amazon announces The Climate Pledge fund of $2 billion

Washington: The Tech Giant Amazon has announced The Climate Pledge Fund of $2 billion. The fund will be used to support technologies and services that aim on combating climate change and decarbonization.

Amazon founder and chief executive Jeff Bezos said that The Climate Pledge initiative “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”

He further added :“Companies from around the world of all sizes and stages will be considered, from pre-product startups to well-established enterprises. Each prospective investment will be judged on its potential to accelerate the path to zero carbon and help protect the planet for future generations.”

“Climate Pledge” by Amazon aims at meeting goals of the Paris accord on climate ahead of schedule. The fund announced has followed Amazon’s declaration last year to speed up their efforts in cutting down carbon footprints and encouraging others to be a part of this endeavor as well.

Since then, US-based telecom giant Verizon, British consumer goods firm Reckitt Benckiser and India-based tech giant Infosys. have also joined Amazon in their efforts.

Amazon has declared that it is on the right direction to operate on 100 per cent renewable energy by 2025 and would become carbon neutral by 2040.