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Amazon creates a $2 billion climate fund, as it struggles to cut its own emissions:
Investment areas: In a press release, Amazon said the new fund would focus on startups that could help it and other businesses achieve "net zero" emissions by 2040. It will invest across a wide array of industries, including transportation, energy generation, energy storage, manufacturing, materials, and agriculture.
What's behind the move? The Seattle retail giant has come under growing pressure from the public and its own employees to shrink its environmental footprint as the dangers of global warming grow. [...]
Earlier Amazon efforts: Several days later, Amazon committed to achieve "net zero" emissions by 2040, which means it would need to offset any remaining emissions from its operations through investments in carbon removal projects, such as forest restoration or carbon capture machines. In February, chief executive Jeff Bezos, the world's richest person, announced he would donate $10 billion of his personal fortune to scientists, activists, and NGOs working to address climate change.
(Score: 1) by oumuamua on Thursday June 25 2020, @04:01PM (6 children)
Great effort but can it work without a carbon market? In order to be profitable a lot of these ideas depend on a carbon market,
memified: https://www.genolve.com/design/socialmedia/memes/Hey-Capitalism-we-want-to-save-the-Earth. [genolve.com]
(Score: 4, Insightful) by JoeMerchant on Thursday June 25 2020, @04:42PM (3 children)
Sometimes leading into new areas without legislated mandates and tax incentives can reap even greater rewards than sitting around and waiting for committees to decide how to count the obvious beans. See: Tesla, the Quixotic electric vehicle maker.
🌻🌻 [google.com]
(Score: 2) by RS3 on Friday June 26 2020, @02:57AM
Also in part because you could get ahead of competition, establish a good name in the market, refine your processes; but don't nap like Intel.
(Score: 2) by Thexalon on Friday June 26 2020, @03:41PM (1 child)
Tesla? You mean the EV company that got started later than many of the other carmakers and is both way more expensive and in many ways a lower-quality product than its competitors? The company that is in no way essential to the development of EVs?
Really: Their EV technology is behind that of Toyota, Honda, Chevrolet (!), and quite a few other players by a lot of measurements. Really the only thing they've mastered is marketing to limousine-liberal types who want to feel good about themselves, can't do the math, and don't need to worry about the costs.
The only thing that stops a bad guy with a compiler is a good guy with a compiler.
(Score: 2) by JoeMerchant on Friday June 26 2020, @04:28PM
I may not know much about the value of electric vehicle production programs, but I can read the market capitalization number on a stock summary...
🌻🌻 [google.com]
(Score: 0) by Anonymous Coward on Thursday June 25 2020, @04:43PM
If the price on carbon is a cost of doing business, it will be added to the price of the sold goods.
Then you'll have exactly two big online retailers: Amazon and Alibaba. Tough choice, which one will you buy your trinkets from?
(Score: 3, Funny) by kazzie on Thursday June 25 2020, @07:04PM
If we need a carbon market, we can sell it on Amazon.