Amazon just announced that it will invest $10 million in Closed Loop Fund to support recycling infrastructure in the United States.
Amazon stated that its investment will increase the availability of curbside recycling for 3 million homes in communities across the country, making it easier for customers to recycle and further develop end markets for recycled commodities. The investment will divert 1 million tons of recyclable material from landfill into the recycling stream and eliminate the equivalent of 2 million metric tons of carbon dioxide by 2028—equivalent to shutting down a coal-fired power plant for six months, the company added.
“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, in a statement. “We are investing in 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 Fund invests in sustainable consumer goods, advanced recycling technologies and the development of the circular economy. Over the next 10 years, it aims to eliminate more than 16 million tons of greenhouse gas, divert more than 8 million cumulative tons of waste from landfills, improve recycling for more than 18 million households and save nearly $60 million for American cities.
“Amazon's investment in Closed Loop Fund is another example of how recycling is good business in America,” said CEO of Closed Loop Fund Ron Gonen in a statement. “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."
Amazon’s investment in Closed Loop Fund furthers Amazon’s commitment to reducing packaging waste through its Frustration-Free Packaging programs, which are designed to produce less waste than traditional packaging. Amazon noted that it works directly with thousands of manufacturers to help them redesign their packaging, eliminate waste throughout the supply chain and ensure products arrive undamaged on customers’ doorsteps. Amazon introduced Frustration-Free Packaging 10 years ago, and it has eliminated more than 244,000 tons of packaging materials to date, avoiding 500 million shipping boxes.