A bold new program by Amazon called the Climate Pledge Fund is getting media attention today, as technology writers report on an initial $2 billion investment from the retail behemoth into companies that are working on various kinds of energy innovations. For reference, Jeff Bezos is worth a reported $194 billion.
One of these companies is Resilient Power, a company out of Austin, Texas working on EV designs.
Another is a fuel innovator called Infinium.
Amazon is also reportedly buying into a company called CMC Machinery that will help to create specially sized boxes for products to eliminate packaging materials.
The context? An industry that seems to value such endeavors.
“The investments come as investors are pouring money into start-ups working to address climate change,” writes Annie Palmer today at CNBC. “Climate tech start-ups have raised $32 billion so far this year, a level that’s already exceeded the whole of 2020 for global climate tech investment, according to research conducted by Dealroom.”
With that in mind, experts are warning consumers to look out for greenwashing in assertive company claims.
“It’s very important that you stick to your policy,” said Tikehau co-founder Antoine Flamarion in a CNBC video resource addressing the practice.
Despite agency efforts to address greenwashing, it seems to be a resilient aspect of how companies work.
“The Federal Trade Commission began its “Green Guides” in 1992 and have since been revised several times,” writes Phil Prazan at a Florida NBC affiliate. “The FTC says the guidelines are ‘designed to help’ companies ‘avoid making environmental claims that mislead consumers.’ Before government regulators come in, some companies do try to self-regulate through programs like the non-profit BBB National Programs.”
Different sorts of green energy announcements can move markets, as demonstrated by the sudden plunge of Bitcoin earlier this year. Look for the impact on big tech platforms and retailers.