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Illustration: Sarah Grillo/Axios

Matt Peterson, a senior Amazon exec, joined the "Axios Re:Cap" podcast to explain the thinking behind the tech and commerce giant's climate venture capital fund, which rolled out its first investments on Thursday.

Why it matters: The fund, $2 billion to start, is beginning to invest on the heels of Amazon's late 2019 pledge to be net-zero emissions by 2040.

The big picture: Peterson, their director of new initiatives, made the case that today's clean tech VC investing isn't akin to the meltdown of a decade ago.

  • One reason, he said, is that it will help Amazon and other companies obtain new tech to fulfill emissions pledges.
  • “The way we are approaching this is from a demand perspective, not a supply perspective. We are asking ourselves, what does Amazon need as a company to decarbonize, then we are finding companies that produce those products,” Peterson said.
  • “We’re coming at it from the standpoint of, we will be a customer of this technology today if we can find the right company, and I think that’s a much more sustainable way to invest."

The intrigue: He said one kind of important tech they will be decarbonized aviation. "That is one of our biggest challenges, and there is really nothing out there today that can address that," Peterson said.

  • Electrified jets that could meet the needs of their operations are likely decades away, he said.

Go deeper: Amazon defends working with oil companies to reach its zero-carbon goal

Go deeper

Tech's biggest upcoming battles in 2020

Illustration: Eniola Odetunde/Axios

The most consequential stories for tech in 2020 pit the industry's corporate colossi against the U.S. government, foreign nations, and the human needs of their own customers.

Why it matters: Today's tech giants own and operate the informational hubs that increasingly shape our public and private lives. That's putting their products and policies under greater scrutiny than ever before.

Updated 9 mins ago - Sports

Big European soccer teams announce breakaway league

Liverpool's Mohamed Salah (L) after striking the ball during the UEFA Champions League Quarter Final Second Leg match between Liverpool F.C. and Real Madrid at Anfield in Liverpool, England, last Wednesday. Photo: John Powell/Liverpool FC via Getty Images

12 of world soccer's biggest and richest clubs announced Sunday they've formed a breakaway European "Super League" — with clubs Manchester United, Liverpool, Barcelona Real Madrid, Juventus and A.C. Milan among those to sign up.

Why it matters: The prime ministers of the U.K. and Italy are among those to express concern at the move — which marks a massive overhaul of the sport's structure and finances, and it effectively ends the decades-old UEFA Champions League's run as the top tournament for European soccer.

3 hours ago - Politics & Policy

Senate Democrats settling on 25% corporate tax rate

Sen. Joe Manchin (D-W.Va.). Photo: Chip Somodevilla/Getty Images

The universe of Democratic senators concerned about raising the corporate tax rate to 28% is broader than Sen. Joe Manchin, and the rate will likely land at 25%, parties close to the discussion tell Axios.

Why it matters: While increasing the rate from 21% to 25% would raise about $600 billion over 15 years, it would leave President Biden well short of paying for his proposed $2.25 trillion, eight-year infrastructure package.

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