Amazon plans to use the proceeds of its bond to fund projects in five areas, including renewable energy, clean transportation, sustainable buildings, affordable housing and socioeconomic advancement and empowerment.
“At Amazon, we are committed to using our scale for good,” reads a blog post about the bond. “Amazon continues to stimulate investment in the development of green technologies and low carbon products and services that will enable companies of all sizes to decarbonize their operations.”
The bond, which enables other investors to join, is part of Amazon’s Sustainable Bond Framework, which outlines Amazon’s commitment to sustainability and how the retailer is making good on its promises. For example, the bond includes goals to reach net-zero carbon by 2040, to purchase 100,000 electric delivery vehicles and to reach 100% renewable energy by 2025.
In addition, Amazon has committed to:
- Making all Amazon shipments net-zero carbon through Shipment Zero, with a goal of delivering 50% of all shipments with net-zero carbon by 2030
- Investing to support the scalability and development of technologies and services that accelerate and facilitate the transition to a low-carbon economy
- Investing in nature-based solutions, which include conservation, restoration, and improved land management actions that increase carbon storage or avoid greenhouse gas emissions in forests, wetlands, and grasslands across the globe
- Supporting innovative housing affordability initiatives
- Increasing opportunities for underrepresented groups to enter the technology workforce and launching, scaling, and investing in skills training programs