Amazon is one of the world’s top retailers. The amount of packaging used in Amazon products adds up to tonnes of waste that usually ends up in landfills, half of which is recyclable. So, Amazon announced an investment of $10 million in the Closed Loop Fund to promote recycling.
The investment is estimated to divert 1 million tons of recyclable materials from the landfill into the recycling stream and eliminate almost 2 million metric tons of carbon dioxide by 2028 which is equivalent to shutting down a coal-fired power plant for six months.
Closed Loop Fund finances the development of advanced recycling infrastructure and services. The fund is supposed to bring the convenient, sufficient curbside recycling at the homes of people.
“This investment will help build the local capabilities needed to make it easier for our customers and their communities to recycle and to increase the amount of material recycled across the country,” said Dave Clark, Amazon’s Senior Vice President of Worldwide Operations. “We are investing in the Closed Loop Fund’s work because we think everyone should have access to easy, convenient curbside recycling. The more we are all able to recycle, the more we can reduce our collective energy, carbon, and water footprint.”
Closed Loop is not only concerned with recycling. Apart from it, the fund also invests in sustainable consumer goods and the development of the circular economy in the whole to eliminate tons of greenhouse gas and waste from landfills in the next decade. This will improve recycling for more than 18 million households and save $60 million for American cities.
“Amazon’s investment in the Closed Loop Fund is another 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. We applaud Amazon’s commitment to cut waste, and we hope their leadership drives other brands and retailers to follow suit.” Ron Gonen, CEO of Closed Loop Fund added.