Amazon founder and CEO Jeff Bezos. Photo: Andrej Sokolow/picture alliance via Getty Images

Amazon is creating a $2 billion venture fund that will stake companies working on climate-friendly technologies in transportation, storage, food, power generation, waste and more, the tech giant said Tuesday.

Why it matters: The new fund will help Amazon and other companies meet the "climate pledge" that Amazon announced last year to reach net-zero emissions by 2040.

  • Verizon, Infosys, and consumer goods heavyweight Reckitt Benckiser joined the pledge last week, and Amazon said this morning it will look to involve pledge signatories in the venture effort.

How it works: "Companies from around the world of all sizes and stages will be considered, from pre-product startups to well-established enterprises," Amazon founder and CEO Jeff Bezos said in a statement.

What's next: Amazon opened the initial application process this morning, setting up a page to accept "indications of interest." But, as the Wall Street Journal notes, Amazon didn't provide a timeline for distributing what it called the "initial" $2 billion.

The big picture: It's part of a growing move by tech giants into funding climate-friendly companies and technologies — even as they remain under fire over their business deals with oil companies.

Flashback: Microsoft, when it rolled out its January pledge to become "carbon negative" by 2030, said it was creating a $1 billion fund to "accelerate the global development of carbon reduction, capture, and removal technologies."

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Harris to Black voters: Casting a ballot is about honoring your ancestors

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Why it matters: The U.S. saw a significant decline in African-American voter turnout between 2012 and 2016, reaching its lowest point since 2000. Higher turnout among Black Americans this year could tip the balance in favor of Democrats in key battleground states, including Georgia.