Seattle’s KeyArena is being renamed to Climate Pledge Arena after Amazon bought the exclusive naming rights, Amazon CEO Jeff Bezos announced in an Instagram post Thursday. The name is a nod to the arena’s status as the first net zero carbon certified arena and “a regular reminder of the urgent need for climate action,” Bezos wrote in his post. The arena, which is undergoing renovation, will use rainwater for its ice and generate zero waste. The renovations had been initially expected to cost $700 million, a figure that has since risen to an estimated $1 billion. It is expected to reopen late in the summer of 2021.