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Amazon to Start $2 Billion Fund to Back Climate Technologies

  • Fund seeks to back sustainable technology across industries
  • Microsoft created a $1 billion climate tech fund in January
Amazon.com Inc. Prime branded semi-trailers sit in a lot in this aerial photograph over Kewanee, Illinois.

Amazon.com Inc. Prime branded semi-trailers sit in a lot in this aerial photograph over Kewanee, Illinois.

Photographer: Daniel Acker/Bloomberg
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Amazon.com Inc. is investing $2 billion on “sustainable and decarbonizing technologies” in an effort to eliminate its carbon footprint.

The fund, which will be run by the company’s corporate development group, aided by Amazon’s internal sustainability team, will have a mandate to back technologies being developed to reduce the greenhouse gas emissions blamed for a warming planet. The Climate Pledge Fund plans to make bets in a broad range of industries, from transportation and manufacturing to energy generation and agriculture, Amazon said in a statement Tuesday.