Post by account_disabled on Feb 22, 2024 4:13:52 GMT -5
Amazon will invest at least $2bn (£1.6bn) in smaller companies developing technologies or services aimed at reducing carbon emissions to zero, the e-commerce giant announced on Tuesday (June 23). The investment is titled "The Climate Pledge Fund," and is Amazon's tribute to its global sustainability strategy, launched last year and led by a net-zero goal by 2040. Sarah George in edie , comments that this investment will be used to help companies " of all sizes, from those starting a project to those already established ", as long as they work to improve the products, systems and services that accelerate the decarbonization of high-emission sectors or the transition to a circular economy. The companies will be evaluated by representatives of Amazon and the NGO Global Optimism, co-founded late last year by the architect of the Paris Agreement Christiana Figueres. The ruling will be issued on a case-by-case basis and companies will be asked to demonstrate their environmental beneficial potential. To access such financing, companies must operate within the transport and logistics sector, power generation, energy storage and flexibility, materials manufacturing or in the food and agriculture sector. Amazon has not yet confirmed the limit of financing that a company can receive from The Climate Pledge Fund, nor on what date it intends to allocate the entire $2 billion. However, he defined the sum as "initial", stating that there is potential for more investments either from Amazon itself, other companies or equity investors. In addition, the American e-commerce company is already investing in external innovation through other channels.
Last year the retailer led a $700 million investment round in Rivian, a Michigan-based electric vehicle company, before placing an order for 100,000 Rivian delivery vehicles, which will go into operation in late 2021. The Climate Pledge Fund will seek to invest in the visionary and innovative entrepreneurs who are building products and services to help companies reduce their carbon impact and operate more sustainably. Jeff Bezos, founder and CEO of Amazon. The launch of the fund comes shortly after Amazon revealed that three other major companies – Dettol and Durex owner Reckitt Benckiser, US telecoms giant Verizon and Indian IT services company Infosys – have joined The Climate Pledge. Earlier this year, Bezos pledged $10 billion of his Bulgaria Mobile Number List personal wealth to scientists, NGOs and activist groups working on climate change adaptation and mitigation. However, historically, Amazon has come under a lot of criticism for its approach to environmental sustainability. The Climate Pledge was created following growing pressure from consumers, investors and its own staff, who were disappointed by the company's hesitation to set numerical and time-bound targets on issues such as achieving renewable energy. Amazon has also come under fire for selling its web services to oil and gas companies as well as using non-renewable energy to power its cloud infrastructure.McDonald's has unveiled plans to install electric vehicle (EV) charging points in all restaurants with a drive-through service, as part of a partnership with InstaVolt in the UK and Ireland. The charging points will be independent of the vehicle, making them compatible with all electric car models currently on the UK market, and will have a 125kW fast charging feature. According to edie , InstaVolt claims that this feature will allow many models to reach 80% of their maximum range on a 20-minute charge. McDonald's will make chargers accessible to customers during checkout as they work to adjust their company car strategy to make them accessible to restaurant staff.
Staff who are eligible for company cars have been offered all-electric and hybrid options for more than a year, but McDonald's says the new infrastructure should boost uptake of this benefit. With McDonald's operating more than 1,450 restaurants in the UK and Ireland, of which around 1,300 are drive-thrus, the scheme is expected to bring electric vehicle charging points to many cities and towns for the first time . InstaVolt claims it will be the largest EV charging network hosted by a UK restaurant operator to date. McDonald's UK and Ireland chief executive Paul Pomroy said: The ultimate ambition of the plan is to ensure that the fast food giant has more electric vehicle chargers in its estate than any other business in the nation. The appetite for electric vehicles, which will be a central part of the UK's efforts post-COVID-19, is growing. This partnership and ambition leverages our scale, and is a real step forward for those already driving electric vehicles, as well as people considering making the switch. McDonald's UK & Ireland follows the likes of Marston's, Lidl, Morrisons, Tesco and Mitchells & Butlers in increasing investment in EV charging points for customers. It is not yet confirmed when the full rollout of the new chargers will be completed. Electrifying recovery? Speaking to reporters after a Prime Minister's Questions session earlier this month, Boris Johnson said: I want to see a lot more in green technology, green batteries, green motor vehicles, low carbon motor vehicles of all kinds.