Amazon Commits $10 Million to Fund Major Recycling Boost

SEATTLE (Scrap Monster): Seattle, Washington-based electronic commerce major Amazon announced fresh investment of $10 million to boost recycling infrastructure in the U.S. The investment in the corporate-backed Closed Loop Fund (CLF) is aimed at promoting recycling of goods by curtailing the amount of waste ending up in landfills.

According to reports, Amazon will pay $2 million to the fund each year through 2022, which will be repaid over the next five-year period beginning in 2023. It must be noted that Amazon’s investment comes at a time when a large number of cities and communities are questioning the benefits of curbside recycling services, mainly on account of escalating costs and challenging market conditions.

The press release by the company stated that the investment will expand curbside recycling facility for additional 3 million U.S. households in communities spread across the country. This in turn is expected to enhance the recycling access to customers and lead to further development of recycled commodities’ end markets. The aim is to divert approximately 1 million tons of recyclable materials from landfills, thereby eliminating 2 million metric tons of carbon dioxide over the next decade, it added.

Dave Clark, Amazon's Senior Vice President of Worldwide Operations noted that the investment will make recycling easier for residents, thus contributing to significant jump in volume of recycled materials across the country, he said.