The company said it forms part of a new Sustainable Bond Framework and will be spent on new and existing projects
Amazon has announced the issuance of its first sustainability-focused bond of $1 billion, which will be used to fund projects in five areas: Renewable Energy, Clean Transportation, Sustainable Buildings, Affordable Housing, and Socioeconomic Advancement & Empowerment.
The company said it forms part of a new Sustainable Bond Framework and will be spent on new and existing projects.
As a framework expanding their investments in various sustainable areas, the projects include the sustainable building projects, like using an all-electric heating and cooling system run on renewable energy, as well as supporting innovative housing affordability initiatives.
Amazon said that it has placed an order for 100,000 electric delivery vehicles with Rivian, the largest order ever of electric delivery vehicles, and has also partnered to order EVs from Mahindra Electric and Mercedes Benz.
It also aims to increase opportunities for underrepresented groups to enter the technology workforce and launch, scale, and invest in skills training programs and has pledged to reach net zero carbon emissions by 2040 and to power all its operations with renewable energy by 2030.
Additionally, it also aims to make all shipments net-zero carbon, with a goal of delivering 50% of all shipments with net-zero carbon by 2030, while 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.
