Amazon

Carbon per million dollars of revenue. The legacy industry-standard reference (CDP, MSCI). Useful for cross-sector context, but distorted by margin — high-margin firms appear artificially efficient. Read alongside the operational and asset intensities for the full picture.

OpEx (operating expenditure) is the running cost of the business — staff, services, energy, materials. This shows how carbon-intensive operations are per million dollars of spend. Removes the margin distortion that revenue-based ratios introduce.

EVIC (Enterprise Value Including Cash) is the firm's total capital footprint — equity + debt + cash + minority interest. The EU's standard intensity measure (SFDR PAI 3) — answers: how much carbon does each million of capital deployed in this business produce?

PP&E (Property, Plant & Equipment) plus leased real-estate assets is the firm's physical infrastructure on the balance sheet. This shows the carbon intensity of that physical footprint — uses Scope 1+2+3 for consistency with the other headline intensities. Surfaces stranded-asset risk for asset-heavy firms.

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For the second consecutive year in 2024, 100% of electricity consumed by Amazon was matched with renewable energy sources. As of January 2025, Amazon had invested in 621 renewable energy projects globally—including 124 new projects in 2024—representing 34 GW of carbon-free energy capacity (219 solar, 83 wind farms, plus 319 on-site rooftop solar systems). Amazon has been the world's largest corporate purchaser of renewable energy since 2020 (per BloombergNEF), and became the largest corporate buyer of offshore wind energy in 2024, enabling 1.3 GW across five offshore wind farms in Germany, the Netherlands, and the UK. Amazon also expanded into nuclear in 2024, leading a ~$500M Series C-1 in X-energy to support SMR deployment up to 960 MW by 2039, plus an agreement near Talen Energy's Pennsylvania nuclear facility.

Amazon's carbon neutralization focuses on three priorities: reducing deforestation, advancing nature-based removals, and scaling carbon removal technologies. Direct Air Capture (DAC) is described as an important technology — Amazon is investing in and committing to purchase carbon removal credits produced by DAC. Amazon co-founded the LEAF Coalition in 2021 to finance tropical rainforest protection, and contributed to development of the ABACUS label released by Verra in 2024, which identifies high-quality restoration credits. Approach detailed in Amazon's Carbon Neutralization Methodology covering direct investment, advance purchase agreements, coalition building, and methodology development.

• Climate Pledge Fund — $2B venture investments in hard-to-abate tech

  The Climate Pledge Fund, a $2 billion venture investment program, made 12 new and follow-on investments in 2024 across transportation, energy, buildings, manufacturing, circular economy, food, carbon removal, and water — totaling 32 portfolio companies. Recent investments include Forum Mobility (zero-emission drayage trucks), Glacier (AI recycling robots), Subeca (water metering), and Paebbl (CO2-to-building-materials). $50M earmarked for women-led climate initiatives.

• Electric delivery fleet (31,400+ EVs, 1.5B packages delivered)

  Vehicle electrification is a decarbonization priority. By end of 2024, Amazon deployed 31,400+ electric vans globally (including 24,000+ from Rivian), up from 19,000 in 2023, and delivered 1.5 billion packages via EVs. Achieved India goal of 10,000 EVs a year ahead of schedule. Installed 11,770 chargers (24,000 total) at 50 delivery stations — largest private charging network in the U.S. In early 2025 ordered 200+ Mercedes-Benz eActros 600 heavy goods electric trucks for Europe. Target: 100,000 electric delivery vans on the road globally by 2030.

• AWS data center efficiency — PUE 1.15, liquid cooling, custom chips

  AWS achieved a global PUE of 1.15 in 2024, vs. industry average 1.25 and on-premises 1.63. New 2024 data center components deliver 12% more computing power and reduce peak cooling energy by 46% without increasing water use. AWS introduced direct-to-chip liquid cooling for AI compute. Custom Graviton chips use up to 60% less energy than comparable instances; Trainium3 chips are up to 40% more energy efficient than Trainium2. Amazon's own Graviton adoption abated 71,000 MTCO2e in 2024; 70,000+ external customers achieved 12,000 MTCO2e reduction.

• Lower-carbon building materials (concrete, steel, mass timber)

  In 2024, 49 Amazon building projects incorporated lower-carbon materials, avoiding 77,000 metric tons of embodied CO2e. AWS constructed 36 data centers with lower-carbon steel (plus 31 in 2023) and 38 with lower-carbon concrete. AWS purchased steel made via hydrogen direct reduction from SSAB. New AWS design standards require 35% less embodied carbon concrete than industry average. CarbonCure used at 86 building sites cumulatively. 8 buildings used mass timber structural elements in 2024.

• Supplier engagement — 90% of highest-emitting suppliers have decarbonization plans

  Amazon identified its high-emitting suppliers representing 50% of Scope 3 emissions and engages them via a Set Target / Share Progress / Reduce Emissions framework. 90% of highest-emitting suppliers have decarbonization plans in place. Launched the free Sustainability Exchange in July 2024 sharing playbooks and tools, and announced a carbon credits service in early 2025 for suppliers with validated net-zero targets. Amazon Devices received commitments from 93 suppliers in 2024 (up from 49 in 2023) to reduce manufacturing emissions, supporting 38 suppliers (80% of direct manufacturing spend) in developing renewable energy plans.

• Lower-carbon fuels — SAF, renewable diesel, RNG, hydrogen

  In 2024 Amazon procured 3.7 million gallons of blended Sustainable Aviation Fuel (SAF) and 4.7 million gallons of renewable diesel (up from 286,300 gallons in 2023). Co-founder of ZEMBA (maritime) and SABA (aviation). 4,400+ compressed natural gas vehicles used 39 million gallons of Renewable Natural Gas in 2024 (12% YoY increase). 17,800 hydrogen-powered forklifts at 80+ North American fulfillment centers. Testing hydrogen fuel-cell trucks in Japan and Europe.