The founder of Amazon.com Inc. (NASDAQ: AMZN), Jeff Bezos, decided to enter the climate change battle by creating Bezos Earth Fund, his biggest humanitarian investment. The fund should start issuing grants within few months, currently from $10 billion which will come from Bezos, and hopefully will grow with participations other big or small companies, organizations, states or individuals.
Faster, Eco-Friendly Deliveries From Amazon?
Amazon and its CEO and president Bezos are under pressure to increase the speed of delivering goods to final customers, but not without taking into account environmental consequences. Some say that the company is not doing enough on this matter. The decision to create the fund should hopefully bring some positive changes, but it is left to see how the fund will be in collaboration with the company, regarding climate change.
In theory, online shopping should mean some positive changes for the climate if the number of car visits to the store are reduced, or actually replaced with fewer vehicle trips for deliveries. Here we must differentiate levels of services and their values – Amazon Prime allows its subscribers to have several smaller orders with no penalty, meaning there still are a larger number of car trips. Is this value too high? Therefore, part of the solution may be in the buyer’s consciousness not to go to the store or order just one item online.
Further Environment Steps From Amazon
Amazon’s strategy for the next period is to use 80% of total spent energy from renewable sources by 2024, and furthermore, 100% until 2030. Currently, Amazon uses 40% of renewable energy. One of the solutions will probably be to use a fleet of electric vehicles. Maybe some of Europe’s popular city cars, just coming up in their electric versions, are a way to go? Something like the new Fiat 500e, from Fiat Chrysler Automobiles (NYSE: FCAU), or Twingo from Renault SA (OTC: RNLSY).
Furthermore, Amazon is close to on boarding Franchise Holdings International Inc., (OTC: FNHI) and its subsidiary Worksport, so their tonneau covers for light trucks will be offered through Amazon’s Marketplace. One of the new lines of Worksport products, TerraVis tonneau covers, will allow integration of solar technology to currently owned pick-up trucks, no matter the model, make and year. Perhaps a good fit for Bezos new fund? This way, traditional tonneau covers can be upgraded to ones that integrate solar panels, battery banks, and electric storage, giving old trucks a new life.
Companies Pro-Active In Eco-Friendly World
Bezos is not the only one interested in an eco-friendly world so is Google Inc. (NASDAQ: GOOGL), (NASDAQ: GOOG) investing 3 Billion dollars in to eco friendly data centres in Europe. Apple Inc. (NASDAQ: AAPL) raised 2 billion dollars to invest in energy efficient and recyclable products. Microsoft Corporation (NASDAQ: MSFT) said it will be carbon negative by 2030. Many other companies listed on the Nasdaq (INDEXNASDAQ: .IXIC) are following their lead.
Bezos’ Personal Investments
Before a $10 billion investment into Bezos Earth Fund, Bezos’s major personal investment was in space travel, which was also related to climate change. The investment was realized by founding the rocket company Blue Origin, which has just opened a production facility in Huntsville, Alabama, which will make the powerful BE-3U and BE-4 engines. Besides philanthropy, Bezos has recently acquired a $165 million Beverly Hills mansion and took part in the art trading market.
This Publication is contributed by IAMNewswire.com
Press Releases – If you are looking for full Press release distribution contact: firstname.lastname@example.org
Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: email@example.com
Copyright © 2019 Benzinga (BZ Newswire, http://www.benzinga.com/licensing).
Benzinga does not provide investmentadvice. All rights reserved.