Amazon Issues $1 Billion Sustainability Bond

(Photo Credit: Amazon)

by | May 12, 2021

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(Photo Credit: Amazon)

Amazon has announced the issuance of a $1 billion sustainability bond. The proceeds will be used to fund projects in five areas, building on significant investments Amazon has made over the years: renewable energy, clean transportation, sustainable buildings, affordable housing, and socioeconomic advancement and empowerment.

This is part of Amazon’s new Sustainable Bond Framework, which details how the company investing to drive a positive impact on society and to help advance new technologies that decarbonize and preserve the natural world. At Amazon, we are committed to using our scale for good. Amazon continues to stimulate investment in the development of green technologies and low carbon products and services that will enable companies of all sizes to decarbonize their operations.

To date, Amazon’s commitments include:

  • Net Zero Carbon by 2040: Deploying our 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. We also partnered to order EVs from Mahindra Electric and Mercedes Benz.
  • 100% Renewable Energy: Amazon has committed to powering our operations with 100% renewable energy by 2030, and we’re 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: Investing 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: 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.

In April, Amazon announced nine new utility-scale wind and solar energy projects in the US, Canada, Spain, Sweden, and the UK. The company now has 206 renewable energy projects globally, including 71 utility-scale wind and solar projects and 135 solar rooftops on facilities and stores worldwide, which will generate 8.5 GW of electricity production capacity globally. With this latest announcement, Amazon is now the largest corporate purchaser of renewable energy in Europe, with more than 2.5 GW of renewable energy capacity.

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