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Why Jeff Bezos is pouring billions into tackling climate change

Jeff Bezos - AP
Jeff Bezos – AP

Jeff Bezos wants you to know that Amazon is serious about tackling climate change. In the space of four days last week, his company launched a $2bn venture capital fund to invest in technologies that tackle carbon emissions, bought an electric self-driving car firm and revealed that it would rename a Seattle hockey stadium to the “Climate Pledge Arena”.

“Instead of calling it Amazon Arena, we’re naming it Climate Pledge Arena as a regular reminder of the urgent need for climate action,” the billionaire founder wrote in an Instagram post captioning a rendering of the stadium’s future logo. 

In February, he announced a $10bn pledge in his own name to finance scientists and charities on the frontline of global warming, building on an order of 100,000 electric vehicles last year from car manufacturer Rivian and a 2040 target to have net zero emissions.

The moves are

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Billions of dollars in aid for small businesses go unclaimed

NEW YORK (AP) — Billions of dollars offered by Congress as a lifeline to small businesses struggling to survive the pandemic are about to be left on the table when a key government program stops accepting applications for loans.

Business owners and advocacy groups complain that the money in the Paycheck Protection Program was not fully put to work because the program created obstacles that stopped countless small businesses from applying. For those that did seek loans, the ever-changing application process proved to be an exercise in futility.

“It was a flawed structure to begin with,” said John Arensmeyer, CEO of Small Business Majority, an advocacy group. “It favored established businesses. It was set up to give money to people with strong banking relationships.”

The program’s shortcomings also made it more difficult for minority businesses to get loans, according to a report from the Center for Responsible Lending, a research

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