The Climate Pledge Fund is a part of Amazon, created to help develop and support projects related to climate technology as part of its Climate Pledge initiative. It is a type of investment fund used by companies to support new ideas and innovations.
History
The Climate Pledge Fund was created in June 2020 to invest in companies that are in the early stages of developing technologies or services to reduce carbon emissions or promote sustainability. As of December 2021, Matt Peterson, director of corporate new initiatives, and Kara Hurst, vice president and head of sustainability, are the leaders of the fund.
Amazon is the naming rights sponsor for Climate Pledge Arena, a sports and entertainment venue in Seattle that opened in 2021. The venue was built with eco-friendly features and is designed to achieve net-zero emissions.
Notable investments
- BETA Technologies – Makes electric vertical takeoff and landing aircraft
- CarbonCure Technologies – Makes concrete with less carbon dioxide
- Redwood Materials – Recycles lithium-ion batteries and creates new battery materials from old ones
- Rivian – Makes electric vehicles
- Turntide Technologies – Creates energy-efficient motors for building systems like ventilation and lighting
- ZeroAvia – Makes hydrogen-powered electric planes for short-distance travel