Amazon.com says that it is investing in initiatives that have impact outside of its own business operations in order to scale carbon removal and channel private sector funding to critical nature projects that will help Amazon and other companies achieve their sustainability goals.
For this reason, Amazon is expanding its Sustainability Exchange resource hub, offering Amazon value chain partners in the US access to invest in nature-based projects and carbon removal technologies through high-integrity science-based carbon credits.
An Amazon spokesperson said, “We know that no organisation can reach its net-zero carbon commitments alone, which is why in 2024, we launched the Sustainability Exchange to drive collaboration and amplify the best decarbonisation solutions for companies of all sizes. The Exchange offers resources, playbooks, and learnings for companies to engage on best practices.
“With [the Exchange’s] expansion to include carbon credits, qualified companies can scale their sustainability action in new ways, and complement their existing and ongoing decarbonisation efforts.
“Credits offered will only be available to companies that have set a net-zero carbon emissions target covering Scope 1 (direct emissions and operations), Scope 2 (indirect emissions from purchased electricity), and Scope 3 (indirect emissions from other sources); measure and publicly report greenhouse gas emissions on a regular basis; and commit to implementing decarbonisation strategies in line with the latest climate science.”
Kara Hurst, chief sustainability officer at Amazon, said, “The voluntary carbon market has been challenged with issues of transparency, credibility, and the availability of high-quality carbon credits, which has led to skepticism about nature and technological carbon removal as an effective tool to combat climate change.
“However, the science is clear: we must halt and reverse deforestation and restore millions of miles of forests to slow the worst effects of climate change. We’re using our size and high vetting standards to help promote additional investments in nature, and we are excited to share this new opportunity with companies who are also committed to the difficult work of decarbonising their operations.”
Companies that are already participating in the service include Climate Pledge signatory Flickr; real estate advisory and development services organisation Seneca Group; commercial real estate construction, design, and development company Ryan Companies; consumer electronics company Corsair; manufacturer and supplier of office furniture, solutions, and services Steelcase; and business technology consulting company Slalom.
Fred Krupp, president of the Environmental Defense Fund, said, “Our planet can’t wait. The need for bold corporate climate action has never been more urgent. Cutting emissions and protecting nature are both critical. Amazon’s carbon credit service shows how companies can take meaningful action with speed and scale.”
Amazon said that as the company works toward decarbonising its business to reach net-zero carbon, we will also continue to empower and support suppliers and business partners to meet their own climate goals.