Amazon Invests in South Africa Carbon-Removal Project, Agrees to Buy 1.95 Million Carbon Credits
By Anvee Bhutani
Amazon said Tuesday it will invest in one of the world's largest nature-based carbon-removal projects, backing the restoration of more than 50,000 hectares of degraded land in South Africa's Eastern Cape and agreeing to purchase 1.95 million carbon-removal credits generated by the project over more than a decade.
The project is expected to restore the region's Albany thicket ecosystemby planting 180 million spekboom shrubs, a native succulent known for its ability to capture carbon from the atmosphere while improving soil health and supporting biodiversity.
Amazon said the project is expected to create about 11,000 jobs by 2030 and generate more than $500 million in economic value for local communities through wages, procurement, landowner payments and community investment.
Amazon said its purchase commitment of carbon-removal credits from the project enabled the World Bank to launch a Spekboom Outcome Bond, giving investors confidence there would be a buyer for the project's future carbon credits.
Amazon said the project is part of its Climate Pledge commitment to reach net-zero carbon across its operations by 2040.
Write to Anvee Bhutani at anvee.bhutani@wsj.com
(END) Dow Jones Newswires
June 30, 2026 10:23 ET (14:23 GMT)
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