Amazon has launched The Climate Pledge Fund to support the development of sustainable technologies and services that will enable the U.S. e-commerce retailer and other companies to meet a commitment to be carbon free, on a net basis, by 2040.

The fund will have an initial $2 billion endowment and will back companies whose products and services will facilitate the transition to a zero carbon economy.  It will invest in companies in various industries, including transportation and logistics, energy generation, storage and utilization, manufacturing and materials, circular economy, and food and agriculture.