Amazon starts USD 2 billon in green energy fund
Internet giant Amazon wants to place USD 2 billion in an internal fund meant to invest in clean energy, writes Down Jones.
"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," says Amazon CEO Jeff Bezos, according to Dow Jones.
The investment fund will be called the Climate Pledge Fund and will make investments within transport, energy generation, batteries and foods production.
Amazon's goal is to be climate-neutral by 2040.
The company, which has a considerable consumption of physical transport for delivering its millions upon millions of packages, has previously been criticized for its marked climate footprint.
The company has built up its giant status by developing from an online book-seller to now selling almost everything. At the same time, third parties can use Amazon as a trading platform.
Moreover, Amazon provides a number of web services, tablets, e-readers and speakers.
In Q1 2020, Amazon sold products and internet services for USD 75.5 billion, earning a net result of USD 2.5 billion.
In Q2, Amazon expects to sell products worth USD 75-81 billion and to book and operating result of USD -1.5 billion to USD 1.5 billion after corona-related expenses of USD 4 billion.
English Edit: Jonas Sahl Jørgensen
