The world’s largest e-commerce and online retail store, Amazon, is investing heavily in removing South Africa’s carbon credits.
The retail corporation recently disclosed its intention to purchase carbon removal credits generated over a decade and totaling 1.95 million tons from the nature-based carbon removal program in South Africa's Eastern Cape.
The World Bank, an international development organization, successfully introduced the Spekboom Outcome Bond, facilitated by the corporation's long-term commitment.
This initiative provides investors with assurance regarding the future market for the project's carbon credits, as seen on Engineeringnews.
The credits are projected to fulfill some of the highest internationally accepted requirements for nature-based carbon reduction, with both the ABACUS and Climate, Community, and Biodiversity (CCB) certifications.
