Amazon has issued bonds to raise $ 1 billion to invest in renewable energy, clean transportation, and green buildings.
According to the Climate Bonds Initiative, green bond issuance globally has hit a record high of $ 270 billion by the end of 2020 and could reach $ 450 billion this year.
The amount raised through long-term bonds is only a small portion of the total debt that Amazon has issued, estimated at about 18.5 billion USD. The company says it can use these funds to invest in clean transportation and carbon-free buildings. Amazon’s projects will include purchasing electric vehicles for fleets, as well as other electric delivery vehicles. In addition, Amazon said it will also use electric heating and cooling systems powered by renewable energy at the company’s new headquarters in Arlington, Virginia. In one pledge, Amazon will cut all carbon emissions by 2040 and power all renewable energy operations by 2030. Amazon’s decision to raise funds for social projects comes when the company faced criticism around the labor issue. In addition to being charged with unsafe procedures and affecting employees’ health, Amazon has also been criticized for illegally firing workers and forcing them not to unionize. However, Amazon has denied these allegations and said it has always supported employees’ equal rights. According to Reuters According to Reuters
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