“Instead of naming it after Amazon, we’re calling it Climate Pledge Arena as a regular reminder of the importance of fighting climate change,” said Amazon founder and CEO Jeff Bezos in a release. The deal is projected to be worth between $300 million and $400 million over its lifetime.
The arena, a more than $1 billion redevelopment of the old KeyArena site, will be built with a heavy focus and investment in sustainability efforts, including:
— Reclaimed rainwater used in the ice system.
— All-electric operations powered with 100% renewable resources.
— 75% of the arena food program will be locally sourced.
The announcement comes on the heels of Amazon starting a $2 billion fund to invest in companies with technology and products helping Earth. The fund was created as Amazon’s carbon footprint rose 15% last year.