Amazon Co-founds The Climate Pledge, Setting Goal to Meet the Paris Agreement 10 Years Early
Today, Amazon (NASDAQ: AMZN) and Global Optimism announced The Climate Pledge, a commitment to meet the Paris Agreement 10 years early. Amazon today becomes the first signatory of this pledge. The Climate Pledge calls on signatories to be net zero carbon across their businesses by 2040—a decade ahead of the Paris Accord’s goal of 2050.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190919005609/en/
Companies that sign The Climate Pledge agree to:
- Measure and report greenhouse gas emissions on a regular basis;
- Implement decarbonization strategies in line with the Paris Agreement through real business changes and innovations, including efficiency improvements, renewable energy, materials reductions, and other carbon emission elimination strategies;
- Neutralize any remaining emissions with additional, quantifiable, real, permanent, and socially-beneficial offsets to achieve net zero annual carbon emissions by 2040.
“We’re done being in the middle of the herd on this issue—we’ve decided to use our size and scale to make a difference,” said Jeff Bezos, Amazon founder and CEO. “If a company with as much physical infrastructure as Amazon—which delivers more than 10 billion items a year—can meet the Paris Agreement 10 years early, then any company can. I’ve been talking with other CEOs of global companies, and I’m finding a lot of interest in joining the pledge. Large companies signing The Climate Pledge will send an important signal to the market that it’s time to invest in the products and services the signatories will need to meet their commitments.”
“Bold steps by big companies will make a huge difference in the development of new technologies and industries to support a low carbon economy,” said Christiana Figueres, the UN’s former climate change chief and founding partner of Global Optimism. “With this step, Amazon also helps many other companies to accelerate their own decarbonization. If Amazon can set ambitious goals like this and make significant changes at their scale, we think many more companies should be able to do the same and will accept the challenge. We are excited to have others join.”
By joining The Climate Pledge and agreeing to decarbonize on a faster time horizon, signatories will play a critical role in stimulating investment in the development of low carbon products and services that will be required to help companies meet the pledge. Amazon’s previously announced investment in Rivian is an example of this. Rivian is a producer of emissions-free electric vehicles with its headquarters in Plymouth, Michigan and a manufacturing plant in Normal, Illinois. The $440 million investment will accelerate the production of electric vehicles critical to reducing emissions from transportation. To further advance this goal, Amazon today announced the order of 100,000 electric delivery vehicles from Rivian, the largest order ever of electric delivery vehicles, with vans starting to deliver packages to customers in 2021. Amazon plans to have 10,000 of the new electric vehicles on the road as early as 2022 and all 100,000 vehicles on the road by 2030 – saving 4 million metric tons of carbon per year by 2030.
80% Renewable Energy by 2024 and 100% Renewable Energy By 2030
Two years ago, Amazon made a long-term commitment to power its global infrastructure with 100% renewable energy. Amazon is now pledging to reach 80% renewable energy by 2024 and 100% renewable energy by 2030 on its path to net zero carbon by 2040. Major investments in renewable energy are a critical step to address its carbon footprint globally. To date, Amazon has launched 15 utility-scale wind and solar renewable energy projects that will generate over 1,300 MW of renewable capacity and deliver more than 3.8 million MWh of clean energy annually – enough to power 368,000 U.S. homes. Amazon has also installed more than 50 solar rooftops on fulfillment centers and sort centers around the globe that generate 98 MW of renewable capacity and deliver 130,000 MWh of clean energy annually.
Investing $100 million in Reforestation
Amazon is launching the Right Now Climate Fund, committing $100 million to restore and protect forests, wetlands, and peatlands around the world in partnership with The Nature Conservancy. The Right Now Climate Fund will help remove millions of metric tons of carbon from the atmosphere over the lifetime of the project, and create economic opportunity for thousands of people.
“The science is clear: healthy forests, grasslands, and wetlands are some of the most effective tools we have to address climate change—but we must act now to take natural climate solutions to scale,” said Sally Jewell, interim CEO, The Nature Conservancy. “Amazon is recognized as an innovator that drives real change. A commitment of this size is an exciting opportunity, with the potential to drive transformational change. We applaud Amazon’s Climate Pledge and their aggressive ambition to achieve net zero carbon emissions by 2040 and look forward to our high-impact collaboration.”
Amazon today launched a new sustainability website to report on its commitments, initiatives, and performance. The site includes information on Amazon’s carbon footprint and other sustainability metrics that share the progress the company is making towards reaching The Climate Pledge. The new goals, commitments, investments, and programs announced today build on Amazon’s long-term commitment to sustainability through existing innovative programs, including Shipment Zero – Amazon’s vision to make all shipments net zero carbon, with 50% net zero carbon by 2030; sustainable packaging initiatives like Frustration-Free Packaging and Ship in Own Container, which have reduced packaging waste by 25% since 2015; renewable energy programs; investments in the circular economy with the Closed Loop Fund; and numerous other initiatives happening every day by teams across Amazon. Visit sustainability.aboutamazon.com to view the company’s new sustainability reporting website and learn more.
Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon. For more information, visit www.amazon.com/about.
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
STELARA® (ustekinumab) Data Demonstrate Long-term Efficacy and Safety Results in Adults With Moderately to Severely Active Ulcerative Colitis in Phase 3 Extension Trial21.10.2019 12:12:00 CEST | Press release
The Janssen Pharmaceutical Companies of Johnson & Johnson today announced new two-year data from the long-term extension of the Phase 3 UNIFI study, demonstrating the efficacy and safety of ustekinumab through two years of treatment in adults with moderately to severely active ulcerative colitis (UC). These data are being presented today as a late-breaking data presentation (LB01) at the 27th UEGW congress.1 These data include 399 participants who were in clinical response eight weeks after receiving a single intravenous (IV) induction dose of ustekinumab and who were then randomised to receive ustekinumab subcutaneous (SC) 90 mg injections every 12 weeks (q12w), ustekinumab SC 90 mg injections every 8 weeks (q8w), or placebo, and who were treated in the long-term extension.1 Results showed that the majority of patients were able to sustain remission through to week 92 as assessed by symptomatic remission. The percentage of patients receiving ustekinumab SC who were in symptomatic remi
H.I.G. Capital Acquires an Office Complex in Lyon21.10.2019 11:10:00 CEST | Press release
H.I.G. Capital, LLC ("H.I.G."), a leading global private equity investment firm with over $34 billion of equity capital under management, announced today that one of its affiliates has recently completed the acquisition of an office complex totaling approximately 29,000 sqm in Lyon, France’s second economic centre. The buildings are expected to be delivered in March 2021 and have already been 70% pre-let to an A rated French corporate tenant on a long-term basis. Terms were not disclosed. H.I.G. continues to add to its sizeable holdings of real estate assets across Europe, consisting of both equity as well as debt investments, with a particular focus on its target market of value-added small and midcap opportunities. Riccardo Dallolio, Managing Director and Head of H.I.G. Realty Partners Europe, commented: “Our focus in France is on high delivering quality assets with strong tenants that have the potential of becoming highly liquid institutional product as the result of the envisaged v
Rubicon Project Acquires RTK.io, A Leader in Open Source Header Bidding Solutions21.10.2019 10:00:00 CEST | Press release
Rubicon Project (NYSE:RUBI), the global exchange for advertising, today announced the acquisition of RTK.io, a leading provider of tools and services that bring simplicity and control to header bidding for publishers. RTK’s solution is built on Prebid, the same open source framework as Demand Manager, the header bidding solution Rubicon Project launched in May 2019. RTK’s technology and team enable Rubicon Project to extend its Demand Manager product portfolio and client base. In the coming months, the company plans to integrate the two solutions to address the growing needs of publishers globally. Rubicon Project acquired RTK in an all-cash transaction for $11 million. “RTK shares our commitment to open source and our passion for serving publishers with powerful tools and incredible client service,” said Michael Barrett, President and CEO of Rubicon Project. “The company has a strong group of header bidding experts and Prebid developers that adds depth to our already great team. Toget
Alibaba Kicks Off 2019 11.11 Global Shopping Festival21.10.2019 07:31:00 CEST | Press release
Alibaba Group Holding Limited (NYSE: BABA) today kicked off its 2019 11.11 Global Shopping Festival, taking the annual celebration into its second decade with a focus on “new consumption,” “new business” and actively contributing to a greener society. “Our goal is to stimulate consumption demand and support lifestyle upgrade in China through new brands and products. We will enable merchants in China and around the world to grow their businesses through data-driven product innovation and consumer insights, as well as leverage our recommendation technology and content-driven user engagement to delight consumers in urban coastal cities and less-developed areas of China,” said Fan Jiang, president of Taobao and Tmall. “Given its scale, minimizing environmental impact is essential and our technology will ensure it is a green 11.11 Global Shopping Festival.” A star-studded gala in Shanghai will count down to the world’s busiest 24 hours of shopping on the evening of November 10th. New Consum
Ebury Makes Landmark Acquisition21.10.2019 06:00:00 CEST | Press release
Ebury, one of Europe’s largest fintech companies, is pleased to announce its first acquisition: Frontierpay, an international payroll payments provider with offices in the UK and Singapore. Ebury’s strategy Fast-growing Ebury, has acquired the payroll payments business as part of its expanded technology investment programme. The acquisition forms part of Ebury’s broader strategy to invest in technologies that will help accelerate the automation of international payment processes, specifically targeting those within finance and treasury functions of mid-market corporates. In addition to payments Ebury is investing in technologies that improve the global trade process for SMEs including FX and currency hedging, international cash management and trade finance. It has announced major banking partnerships announced this year with SACE Simest and Unicaja Banco. Frontierpay acquisition Frontierpay, which was founded in 2009, delivers cost effective and reliable payroll payments across 180 cou
AROMA BIT Secures 350mn JPY in Series A Funding from Japan Tobacco and East Ventures21.10.2019 06:00:00 CEST | Press release
Aroma Bit, Inc. (Representative Director & CEO: Shunichiro Kuroki, headquarters: Chuo-ku, Tokyo, hereinafter "Aroma Bit"), a company which plans and develops compact odor imaging sensors and innovative services using these sensors, has undertaken an third-party allocation of new shares, up to 350 million yen in total, with Japan Tobacco Inc. (President & CEO: Masamichi Terabatake, headquarters: Minato-ku, Tokyo, hereinafter "JT") and existing shareholder East Ventures, in order to acquire the growth funds needed for future equipment development, business development, etc. Aroma Bit, Inc.: http://www.aromabit.com Purpose of the capital increase: Miniaturization and functionality enhancements for the purpose of expanding the digital olfactory market The compact odor imaging sensor developed by Aroma Bit is a unique odor imaging sensor which, unlike conventional gas sensors that can only detect specific substances, is able to generate a visualization pattern from a variety of odor inputs,