Internet retailer Amazon has announced that it is investing $10m in the Closed Loop Fund to support recycling infrastructure in the United States.
Amazon’s investment aims to increase the availability of kerbside recycling for three million homes in communities across the country, making it easier for customers to recycle and develop end markets for recycled commodities.
The retailer has said that the investment will divert one million tonnes of recyclable material from landfill into the recycling stream and eliminate the equivalent of two million metric tonnes of CO2 by 2028.
According to Amazon, roughly half of Americans lack access to convenient kerbside recycling at their homes.
The Closed Loop Fund finances the building of advance recycling infrastructure and services, bringing this service to communities, while saving taxpayers and municipalities money.
Amazon senior vice president of worldwide operations Dave Clark said: “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. We are investing in Closed Loop Fund’s work because we think everyone should have access to easy, convenient kerbside 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. It aims over the next 10 years to:
- Eliminate more than 16m tonnes of greenhouse gas
- Divert more than 8m cumulative tonnes of waste from landfills
- Improve recycling for more than 18m households
- Save nearly $60m for American cities.
Closed Loop Fund chief executive Ron Gonen said: “Amazon’s investment in 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.”