The company founded this program to reach net-zero carbon by 2040, which is 10 years ahead of the Paris Agreement. With this fund, the company also wants to drive social and environmental benefits in the communities where it operates. The $15 million promised investment from the company in the APAC region is a part of that fund.
What Amazon said about the investment
In a statement to PTI, the company said: “The first $3 million from the fund’s APAC allocation will support nature-based projects in India. “For its first project, Amazon will be working with the Centre for Wildlife Studies (CWS) to support communities and conservation efforts in the Western Ghats, which is home to more than 30% of all of India’s wildlife species, including the world’s largest population of wild Asiatic elephants and tigers.”
Amazon will help CWS to establish the “Wild Carbon” program. This project will also support 10,000 farmers in planting and maintaining one million fruit-bearing, timber and medicinal trees.
“To protect the region from the impacts of climate change and preserve biodiversity, we will need both large-scale and local action – and we are committed to investing in both,” added Kara Hurst, the company’s global VP for sustainability.
Meanwhile, CWS executive director Krithi Karanth said that Amazon’s support enables the company to plan and build a program that is self-sustaining in the long term.
“The farmers will receive upfront support to select tree types that serve both their livelihoods and the wildlife, whilst also receiving technical assistance, agroforestry training, and support for replanting failed saplings,” Karanth added.
Amazon’s Climate Pledge
Amazon’s Climate Pledge now has more than 400 signatories across 55 industries and 38 countries, including nine Indian companies. These companies include – BluPine Energy, CSM Technologies India, Godi, Greenko, HCL, Infosys, Mahindra Logistics, Tech Mahindra, and UPL.
In 2022, the company launched six utility-scale projects in India and is reportedly on track to power its global operations with 100 per cent renewable energy by 2025 – five years ahead of the initial 2030 target.
The projects include three wind-solar hybrid projects located in Madhya Pradesh and Karnataka, as well as three solar farms in Rajasthan, representing a total renewable energy capacity of 920 megawatts.
Amazon India has also committed to deploying 10,000 electric vehicles in its delivery fleet by 2025. This project includes three wind-solar hybrid projects located in Madhya Pradesh and Karnataka, as well as three solar farms in Rajasthan, representing a total renewable energy capacity of 920 megawatts.