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The Climate Pledge Fund makes investments into early-stage companies focused on decarbonizing or sustainable technologies and services. The fund is part of Amazon's Climate Pledge initiative with climate advocacy group Global Optimism. It was funded with an initial $2 billion in June 2020.
Amazon's negative impact on the environment can be attributed to their business presence in logistics, supply chain, data centers, and consumer products.The company's large scale along with a heavy reliance on fossil fuels and plastic, as well as their anti-environmental lobbying practices [13] [14] contribute to the criticism.
Climate finance in the United States involves the mobilization of public and private funds to support efforts to mitigate and adapt to climate change, with a focus on leveraging market-based mechanisms, policy incentives, and investments in clean energy and resilience initiatives to meet domestic and global climate goals.
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Colombia's Petro argued that affluent nations should swap foreign debt owed by Amazon countries for climate action, saying that would create enough investment to power the Amazon region’s economy.
The Amazon Fund has a Guidance Committee (COFA), responsible for setting guidelines and monitoring the results achieved, and a Technical Committee (CTFA), which is tasked with certifying the calculations made by the Ministry of the Environment and Climate Change (MMA) regarding the actual reductions in carbon emissions from deforestation.
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The other main multilateral fund, Climate Investment Funds (CIFs), is coordinated by the World Bank. The Climate Investment Funds has been important in climate finance since 2008. [26] [27] It comprises two funds, the Clean Technology Fund and the Strategic Climate Fund. The latter sponsors innovative approaches to existing climate change ...
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