Amazon sustainability bond raising USD 1 billion
Amazon has issued its first sustainability bond raising USD 1 billion 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.
The projects include acquisition of electric vehicles for transportation fleets, e-bikes and other electric alternative delivery vehicles, Amazon said. The framework also include sustainable building projects, like using an all-electric heating and cooling system run on renewable energy in the company’s new Arlington, Virginia, headquarters.
Amazon also said that it may use these funds for private equity investments in clean transportation and zero carbon buildings.
Amazon has said it will reach net zero carbon emissions by 2040 and power all its operations with renewable energy by 2030, as well as increase opportunities for under-represented groups in its workforce.
The company has earlier been criticized for poor health and safety protection for staff.
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