Amazon Establishes 2.4 Trillion KRW Venture Capital Fund to Address Climate Change

▲Jeff Bezos, CEO of Amazon [Image source=AP Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] U.S. e-commerce company Amazon is establishing a $2 billion (approximately 2.4 trillion KRW) venture capital fund to address climate change.

According to the Wall Street Journal (WSJ) on the 23rd (local time), Amazon's "Climate Pledge Fund" will invest in various industries including transportation, energy, batteries, manufacturing, food, and agriculture. The goal of this fund is to invest in clean energy-related companies to help Amazon and other companies achieve net-zero carbon emissions by 2040.

Jeff Bezos, Amazon's Chief Executive Officer (CEO), stated in a press release, "All investments will be evaluated based on their potential to accelerate 'carbon zero' and help protect the planet for future generations."

Amazon referred to this $2 billion venture capital fund as an "initial fund," leaving open the possibility of expansion.

Earlier, in February, Bezos announced the establishment of the "Bezos Earth Fund" by donating $10 billion of his personal wealth. The fund aims to support scientists and environmental activists working on climate change.

Amazon has consistently invested in eco-friendly startups. It invested $700 million in the electric vehicle startup Rivian and announced plans to purchase 100,000 electric delivery vehicles to reduce carbon emissions. In September of last year, Amazon launched an eco-friendly project called the "Climate Pledge," accelerating its green initiatives.

Amazon plans to use 100% renewable energy such as solar and wind power for its own facilities by 2025. WSJ reported that this timeline is about five years earlier than originally planned.

This content was produced with the assistance of AI translation services.