Amazon invests Rs 20.7 Bn in Indian nature-based projects
ECONOMY & POLICY

Amazon invests Rs 20.7 Bn in Indian nature-based projects

E-commerce giant Amazon is investing an initial Rs 20.7 billion in nature-based projects in India as part of its commitment to allocate Rs 1.2 billion for such initiatives across the Asia-Pacific (APAC) region.

The first portion of this funding, Rs 20.7 billion, will support nature-based projects in India, starting with a partnership between Amazon and the Centre for Wildlife Studies (CWS). This collaboration focuses on aiding local communities and conservation efforts in the Western Ghats, a region home to over 30 per cent of India's wildlife species, including wild Asiatic elephants and tigers.

Amazon's contribution of Rs 82 million will help establish the "Wild Carbon" program by CWS, assisting 10,000 farmers in planting and nurturing one million fruit-bearing, timber, and medicinal trees.

Kara Hurst, Amazon's Global VP for Sustainability, stressed the Asia-Pacific region's vulnerability to climate change, biodiversity loss, and land degradation, highlighting the need for comprehensive action. Amazon's investment is aimed at protecting the region from climate change impacts and preserving biodiversity.

This funding is drawn from Amazon's Right Now Climate Fund, a Rs 7.3 billion initiative launched in 2019 to support nature conservation, enhance climate resilience, promote biodiversity, and provide social and environmental benefits to communities in Amazon's operational areas.

Amazon's support for the "Wild Carbon" program will create a self-sustaining initiative. Farmers will receive upfront support to select tree species beneficial to their livelihoods and wildlife. They will also receive technical assistance, agroforestry training, and replanting support for saplings that don't thrive.

Amazon is committed to environmental sustainability, participating in The Climate Pledge, co-founded in 2019, to achieve net-zero carbon emissions by 2040, a decade ahead of the Paris Agreement. Amazon India is actively working on renewable energy goals, aiming to power its global operations with 100 per cent renewable energy by 2025, five years ahead of the initial 2030 target. In 2022, the company initiated six utility-scale projects in India, contributing to a total renewable energy capacity of 920 megawatts. Amazon India also plans to deploy 10,000 electric vehicles in its delivery fleet by 2025.

E-commerce giant Amazon is investing an initial Rs 20.7 billion in nature-based projects in India as part of its commitment to allocate Rs 1.2 billion for such initiatives across the Asia-Pacific (APAC) region.The first portion of this funding, Rs 20.7 billion, will support nature-based projects in India, starting with a partnership between Amazon and the Centre for Wildlife Studies (CWS). This collaboration focuses on aiding local communities and conservation efforts in the Western Ghats, a region home to over 30 per cent of India's wildlife species, including wild Asiatic elephants and tigers.Amazon's contribution of Rs 82 million will help establish the Wild Carbon program by CWS, assisting 10,000 farmers in planting and nurturing one million fruit-bearing, timber, and medicinal trees.Kara Hurst, Amazon's Global VP for Sustainability, stressed the Asia-Pacific region's vulnerability to climate change, biodiversity loss, and land degradation, highlighting the need for comprehensive action. Amazon's investment is aimed at protecting the region from climate change impacts and preserving biodiversity.This funding is drawn from Amazon's Right Now Climate Fund, a Rs 7.3 billion initiative launched in 2019 to support nature conservation, enhance climate resilience, promote biodiversity, and provide social and environmental benefits to communities in Amazon's operational areas.Amazon's support for the Wild Carbon program will create a self-sustaining initiative. Farmers will receive upfront support to select tree species beneficial to their livelihoods and wildlife. They will also receive technical assistance, agroforestry training, and replanting support for saplings that don't thrive.Amazon is committed to environmental sustainability, participating in The Climate Pledge, co-founded in 2019, to achieve net-zero carbon emissions by 2040, a decade ahead of the Paris Agreement. Amazon India is actively working on renewable energy goals, aiming to power its global operations with 100 per cent renewable energy by 2025, five years ahead of the initial 2030 target. In 2022, the company initiated six utility-scale projects in India, contributing to a total renewable energy capacity of 920 megawatts. Amazon India also plans to deploy 10,000 electric vehicles in its delivery fleet by 2025.

Next Story
Building Material

JK Cement emerges successful bidder for Mahan coal mine in Madhya Pradesh

This marks the company’s second commercial coal block win, following its acquisition of the West of Shahdol (South) coal block. "The company is committed to becoming self-reliant for its existing cement plants and upcoming projects," JKC stated. The surplus coal from the mine will be sold commercially. The vesting order was handed over to JK Cement during a ceremony at Shastri Bhawan, New Delhi, a critical milestone for commencing mining operations within the stipulated timeline...

Next Story
Building Material

Prism Johnson's cement division goes live with Ramco ERP Suite

Prism Johnson has successfully gone live with the Ramco ERP Suite for its Cement Division. This milestone marks a significant step in Prism Johnson's digital transformation journey, leveraging Ramco Systems' advanced enterprise solutions and process control systems to streamline business processes, manufacturing operations and drive efficiency. The implementation includes cutting-edge modules for Maintenance, Sales, Distribution, Finance, Procurement, Manufacturing, Quality, and HR Management (HRM). These solutions enable Prism Johnson to achieve seamless integration across its business and wo..

Next Story
Infrastructure Urban

Indian shadow bank Shriram Finance gets record $1.28 billion loan

Shriram Finance Ltd. is reported to have borrowed $1.28 billion in a multi-currency social loan, marking the largest offshore facility ever undertaken by an Indian shadow lender. According to a press release issued by Shriram, the deal is divided across the dollar, euro, and dirham. Sources familiar with the transaction, who wished to remain anonymous, indicated that the tenors in the multi-tranche deal range from three to five years. This loan adds to the surge of offshore debt sales by Indian shadow lenders this year, a trend prompted by the Reserve Bank of India's tightening of rules in Nov..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000