Market Overview

Big Tech Is Going Green

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Big Tech Is Going Green

The rapid adoption of digital care solutions during the pandemic is here to stay beyond this unprecedented year. Business leaders are looking beyond 2020 to use technology advancements to become better prepared for the next existential threat. As a result, tech firms are looking past their usual aspirations as they attempt to reinvent existing practices and surpass today's limitations.

Last week, Amazon.com, Inc. (NASDAQ: AMZN) named the first recipients of capital from a $2 billion venture fund called The Climate Pledge Fund which debuted in June. The goal is to develop climate friendly technologies across all industries so they can together achieve "net zero" carbon emissions by 2040. This is one decade sooner than Paris Agreement's deadline. More precisely, Amazon plans to power its facilities and operations with 100% renewable energy by 2030 as well as electrify its fleet with 100,000 electric delivery vans it ordered from Rivian.

Meanwhile, Alphabet Inc. (NASDAQ: GOOG) announced last week that it intends to run all of its data centers and corporate campuses around the world on 100% carbon-free power by 2030.

On September 15, Facebook, Inc. (NASDAQ: FB) pledged to slash greenhouse gases and purchase enough renewable energy and offsets to cancel out carbon dioxide emissions from its global operations this year.

Apple, Inc. (NASDAQ: AAPL) announced in July that it intended to become carbon neutral across its entire business, manufacturing supply chain, and product life cycle by 2030.

Back in January, Microsoft Corporation (NASDAQ: MSFT) pledged to cut its carbon emissions by 2050. This pledge includes all directly emitted carbon as well as indirect through electrical consumption. For this purpose, Microsoft is partnering with BP p.l.c. (NYSE: BP) who will supply renewable energy for the tech giant as the oil giant evolves away from oil.

But, during the pandemic, there were many smaller players that played just as important roles in helping companies operate throughout the storm.

Corporations going beyond the usual

There certainly isn't a lack of commitments we are seeing from large corporations. The pandemic has redefined corporate imaging efforts as action needed to be taken and as soon as possible. Of course, it is also up to the government to support the digital infrastructure for technology to can truly enhance the way the world operates.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure . IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you're interested in becoming an IAM journalist contact: contributors@iamnewswire.com

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