Amazon Raises $1 Billion Sustainable Bond for Climate and Social Causes
NEW YORK, NY - Sustainability has been a popular topic here at ANUK as more retailers begin to enact valuable strategies to lessen their negative impact on the environment. Pushing forward with a long-term plan to drive sustainability across its operations, Amazon announced that it issued its first sustainability bond on Monday, resulting in a $1 billion fund to invest in clean transport, greener buildings, renewable energy, and affordable housing.
The money raised through the sustainability bond forms the retailer’s new Sustainable Bond Framework and will be used for new and existing projects to further the company’s commitment to sustainability, according to Reuters. It will also fund private equity investments in clean transportation and zero carbon buildings.
These projects include some of the company’s more recent efforts to push sustainability across its operations, including the acquisition of electric vehicles, e-bikes, and other electric-powered alternative delivery vehicles to optimize its transportation fleets. The Sustainable Bond Framework also includes other crucial changes to its facilities, such as implementing all-electric heating and cooling systems that run on renewable energy at the company’s new Arlington, Virginia, headquarters.
This move joins a growing list of the retailer’s efforts to increase the sustainability of its operations, as the company has pledged to power all of its operations with renewable energy by 2030 and to reach net zero carbon emissions by 2040.
As it continues to push to achieve more sustainable practices, what other investments and innovations will we see from Amazon? AndNowUKnow promises to report when we find out.