Amazon to issue $1 billion sustainability bond
Published May 24, 2021
Amazon has announced it is to issue a $1 billion bond focused on funding sustainability projects.
The bond will enable investors to join Amazon in funding projects in five categories: renewable energy, clean transportation, sustainable buildings, affordable housing, and socioeconomic advancement and empowerment.
The investments are in line with Amazon’s Sustainable Bond Framework which sets out to promote green technologies and low carbon products and services that will enable companies of all sizes decarbonize their operations.
“This is a good signal, said Nick Fedson, sustainability analyst at Alfa Energy. “Green bonds are one of the crucial mechanisms in funding sustainable development. This is another positive step in an accelerating trend.”
Amazon is aiming to reach net-zero carbon across the company by 2040, one decade ahead of the Paris Agreement. The internet giant has also committed to powering its operations with 100% renewable energy by 2030, a target it expects to achieve by 2025.
The company has already placed an order for 100,000 electric delivery vehicles with Rivian, the largest order ever of electric delivery vehicles. Amazon expects 50% of all shipments to contribute net zero emissions by 2030.
net zero investment