Amazon.com IncAmazon buys 1.95 million carbon credits, supporting its sustainability business and resale platform

Amazon.com Inc. will purchase 1.95 million carbon credits from a project restoring degraded land in South Africa's Eastern Cape province by planting Spekboom, a succulent plant that sequesters carbon dioxide. The credits, representing just under half of the project's total generation, will be bought at a fixed price over more than a decade and resold through Amazon's Sustainability Exchange to its business units, suppliers, and other companies with net zero targets for 2050 or before. The commitment helped the World Bank secure investor support for a $120 million bond, with part of the proceeds going to Imperative, the company running the initiative. The project spans 50,000 hectares and is expected to create 11,000 jobs by planting 180 million shrubs by the end of 2028. Amazon has also purchased credits from reforestation projects in Ghana and Ivory Coast and from initiatives reducing refrigerant and methane emissions.
Amazon.com IncAmazon buys 1.95 million carbon credits, supporting its sustainability business and resale platform
Apple Inc.World Bank bond proceeds partly go to Imperative, the project operator