Amazon pledges $2 billion to projects fighting climate change

Amazon on Tuesday pledged to invest $2 billion in projects aimed at combatting climate change, stepping up efforts to reduce the carbon footprint of the tech giant and others.

The Climate Pledge Fund will back efforts by startups and other firms in multiple sectors to "facilitate the transition to a zero carbon economy," Amazon said in a statement.

The initiative "will look to invest in the visionary entrepreneurs and innovators who are building products and services to help companies reduce their carbon impact and operate more sustainably," said Amazon founder and chief executive Jeff Bezos.

"Companies from around the world of all sizes and stages will be considered, from pre-product startups to well-established enterprises. Each prospective investment will be judged on its potential to accelerate the path to zero carbon and help protect the planet for future generations."