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Amazon has launched The Climate Pledge Fund to support its sustainability strategy and to help other companies to become net-zero by 2040.

Amazon’s investment towards The Climate Pledge Fund will boost the development of sustainable technologies and services.

Companies from around the world of all sizes and stages, including startups whose products and services facilitate the transition to a zero-carbon economy, will benefit from the fund.

The Climate Pledge Fund will invest in multiple industries, including transportation and logistics, energy generation, storage and utilisation, manufacturing and materials, circular economy, as well as food and agriculture.

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Over time, Amazon will also look for opportunities to involve other Climate Pledge signatories in this venture investment programme.

The launch of the fund comes a year later after the launch of the Climate Pledge by Amazon and Global Optimism. The aim is to reach sustainability goals set under the Paris Agreement 10 years early.

Jeff Bezos, the CEO of Amazon, said: “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. [World’s richest man commits $10bn to fight climate change]

“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.”

R.J Scaringe, the CEO of Rivian, said: “Amazon has demonstrated its leadership in adopting low carbon technologies at scale. [Amazon CEO announces 2040 net-zero goals, world’s largest EV order]

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“Their investment in Rivian and subsequent order of 100,000 electric delivery vans will substantially shrink the carbon footprint of Amazon’s package delivery network. We’re excited about a future of decarbonized delivery services.”

Amazon has also released its 2019 sustainability report. Click here for more information about the company’s sustainability progress.