●What is in the news ?
•The world's biggest company joins a growing list of debt issuers tapping the market for green and sustainable bonds, which is swelling as asset managers come under pressure from their investors to advance environmental, social and governance (ESG) causes.
•Amazon.com Inc (AMZN.O) issued its first sustainability bond on Monday, raising $1 billion to invest in renewable energy, clean transport, greener buildings and affordable housing.
•The money raised through the sustainability bond is a fraction of the total debt Amazon issued on Monday - some $18.5 billion. The company said it forms part of a new Sustainable Bond Framework and will be spent on new and existing projects.
●Things to know more
•Amazon also said that it may use these funds for private equity investments in clean transportation and zero carbon buildings.
•The projects include the acquisition of electric vehicles for transportation fleets, as well as e-bikes and other electric-powered alternative delivery vehicles, Amazon said. The framework also cited sustainable building projects, like using an all-electric heating and cooling system run on renewable energy in the company's new Arlington, Virginia, headquarters.
Amazon has pledged to reach net zero carbon emissions by 2040 and to power all its operations with renewable energy by 2030.