Amazon to make initial investment of $3 mn in nature-based projects in India – EQ

• Amazon said it would invest $15 Mn to support nature-based projects in the Asia-Pacific (APAC) region to fight climate change

• Under the first phase of the project, Amazon would invest $3 Mn in India and will work to support communities and conservation efforts in the Western Ghats

• India is an important market for Amazon and the ecommerce giant has committed to investing another $15 Bn in the country by 2030

Ecommerce major Amazon on Monday (September 4) said it will invest $15 Mn to support nature-based projects in the Asia-Pacific (APAC) region. The investment will be drawn out of Amazon’s $100 Mn Right Now Climate Fund created in 2019.

The climate fund was created to support nature conservation and restoration projects while driving benefits for communities.

Out of the $15 Mn allocation for APAC, Amazon said the first phase of the project will focus on India with an investment of $3 Mn. For this phase, the US-based company will partner with the Centre for Wildlife Studies (CWS) to support communities and conservation efforts in the Western Ghats. It is a UNESCO World Heritage Site and home to more than 30% of all of India’s wildlife species, including the world’s largest population of wild Asiatic elephants and tigers.

Under this programme, Amazon’s funding will enable the CWS to establish the “Wild Carbon” programme, which will support 10,000 farmers in plantation and maintenance of 1 Mn fruit-bearing, timber and medicinal trees, the company said in a statement.

Commenting on the initiative, Kara Hurst, Amazon’s Global VP for Sustainability, said, “The Asia-Pacific region is home to vast forests and rich coastal environments, but it is also highly vulnerable to climate change, biodiversity loss and land degradation. To protect the region from the impacts of climate change and preserve biodiversity, we will need both large-scale and local action – and we’re committed to investing in both.”

With climate change emerging as a major threat to the world, a large number of companies across the globe have been allocating capital for sustainability.

The latest funding for the APAC region is part of Amazon’s broader efforts for decarbonisation. In 2019, the ecommerce behemoth cofounded The Climate Pledge, committing to reach net zero carbon emission by 2040. Nine Indian companies – BluPine Energy, CSM Technologies India, Godi, Greenko, HCL, Infosys, Mahindra Logistics, Tech Mahindra, and UPL – have also signed the pledge.

With climate change emerging as a major threat to the world, a large number of companies across the globe have been allocating capital for sustainability.

The latest funding for the APAC region is part of Amazon’s broader efforts for decarbonisation. In 2019, the ecommerce behemoth cofounded The Climate Pledge, committing to reach net zero carbon emission by 2040. Nine Indian companies – BluPine Energy, CSM Technologies India, Godi, Greenko, HCL, Infosys, Mahindra Logistics, Tech Mahindra, and UPL – have also signed the pledge.