Amazon.com Inc. is planning to open a $2 billion fund backing climate change reduction efforts, according to a report from the Wall Street Journal.
The venture capital vehicle, known as The Climate Pledge Fund, will invest in companies building technology meant to reduce carbon emissions. Companies can span a variety of industries, including transportation, energy generation, battery storage, manufacturing and agriculture.
Amazon also said it is planning to run on 100 percent renewable energy by 2025. The company has 91 renewable energy projects to date, including 31 utility-scale wind and solar projects and 60 solar rooftops on fulfillment centers and sort centers around the world, according to the tech giant.
“Together, these projects totaling over 2,900 megawatts of capacity will deliver more than 7.6 million megawatt hours of renewable energy annually, enough to power 680,000 U.S. homes, and we plan to continue investing, including in the deployme
