Amazon has started selling carbon credits to its suppliers, business customers, and other companies, which can be utilized to offset their carbon emissions. This initiative arises amid ongoing debates among companies, project developers, and scientists regarding the appropriate use of carbon credits to help reduce emissions.
The company stated that it used industry-leading standards wherever possible for its credits and supports the development of robust standards where existing ones are lacking. This marks Amazon's initial venture into selling carbon credits, although it has previously participated in industry initiatives and invested in projects aimed at protecting forests, restoring degraded land, and advancing carbon removal.
Kara Hurst, Amazon's chief sustainability officer, noted that the company intends to leverage its size and rigorous vetting standards to encourage further investments in nature. Companies such as Flickr, real estate advisory group Seneca, and consumer electronics company Corsair have already joined the program.
Recently, the Science-Based Targets initiative (SBTi), which assists companies in setting decarbonization targets, indicated that while carbon credits could be used by companies, they should be restricted to residual emissions—the small portion remaining after the company has made its best efforts to reduce them. However, the initiative did not endorse their broader application for meeting decarbonization goals.
The Bezos Earth Fund, established by Amazon founder Jeff Bezos, was a significant supporter of SBTi until November 2023, when its $18 million grant to the organization was not renewed. Amazon specified that its credits will be available to companies that meet certain conditions, including having a net-zero target for their own emissions and throughout their supply chain, as well as measuring and publicly reporting their greenhouse gas emissions.