Amazon is backing up its environmental initiatives with a new $1 billion bond focused on funding projects in five key sustainability areas.
The e-tail giant will use proceeds from the bond to build on investments it has made over the years in renewable energy, clean transportation, sustainable buildings, affordable housing, and socioeconomic advancement & empowerment. The bond will enable investors to join Amazon in its social and environmental efforts.
To date, Amazon’s corporate sustainability commitments include:
• Net Zero Carbon by 2040: The retailer is deploying technology and people to reach net-zero carbon across Amazon by 2040, one decade ahead of the Paris Agreement.
• 100,000 Electric Delivery Vehicles: Amazon placed an order for 100,000 electric delivery vehicles with Rivian, the largest order ever of electric delivery vehicles. Amazon also partnered to order electric vehicles from Mahindra Electric and Mercedes Benz.
• 100% Renewable Energy: Amazon has committed to powering its operations with 100% renewable energy by 2030, and is on a path to achieve this five years early, by 2025.
• Shipment Zero: Making all Amazon shipments net-zero carbon through Shipment Zero, with a goal of delivering 50% of all shipments with net-zero carbon by 2030.
• Climate Pledge Fund: Amazon is investing $2 billion to support the scalability and development of technologies and services that accelerate and facilitate the transition to a low-carbon economy.
• Right Now Climate Fund: Amazon is investing in nature-based solutions, which include conservation, restoration, and improved land management actions that increase carbon storage or avoid greenhouse gas emissions in forests, wetlands, and grasslands across the globe.
• Affordable Housing: The retailer is supporting innovative housing affordability initiatives.
• Advancement and Empowerment: The company is increasing opportunities for underrepresented groups to enter the technology workforce and launching, scaling, and investing in skills training programs.
To see Amazon’s sustainability bond framework, click here.