Global logistics company Amazon has announced it will invest $10 million USD into a social impact investment fund to support recycling infrastructure in the United States.
The investment into Closed Loop Fund aims to increase kerbside recycling for 3 million homes around the US to make it easier for customers to recycle and develop end markets for recycled goods.
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An estimated one million tonnes will be diverted from landfill into the recycling stream, which would eliminate the equivalent of 2 million tonnes of carbon dioxides by 2028.
Closed Loop Fund provides cities and recycling companies access to funding to build recycling programs and aims to invest $100 million USD by 2020 to create economic value for cities and build circular supply chains.
The fund aims to improve recycling for more than 18 million households and save around $60 million USD for American cities.
Amazon Senior Vice President of Worldwide Operations Dave Clark said the investment will help build local capabilities needed to make it easier for Amazon customers and their communities to recycle.
“We are investing in Closed Loop Fund’s work because we think everyone should have access to easy, convenient kerbside recycling,” he said.
“The more we are all able to recycle, the more we can reduce our collective energy, carbon, and water footprint.”
Closed Loop Fund CEO Ron Gonen said Amazon’s investment is an example of how recycling is good business in America.
“Companies are seeing that they can meet consumer demand and reduce costs while supporting a more sustainable future and growing good jobs across the country,” he said.
“We applaud Amazon’s commitment to cut waste, and we hope their leadership drives other brands and retailers to follow suit.”
Image Credit: Amazon