Amazon has signed a long term offtake deal to purchase 1.95 million metric tons of carbon removal credits from the Spekboom Restoration Project in South Africa. The project, developed by Imperative and NatCarbon Africa, will restore 50,000 hectares of spekboom plants in its second phase. Amazon says the deal runs for more than a decade and helped unlock a $25 million World Bank outcome bond plus $66 million from institutional investors including Mirova, GenZero, and Rubicon Carbon. The project is expected to create around 11,000 jobs and inject $500 million into local communities by 2030 through wages, procurement, and landowner payments. When fully completed across 100,000 hectares, the project aims to remove 35 million metric tons of CO2 equivalent over 40 years. Amazon will also sell credits from the project on its carbon credit service, which is available to U.S. supply chain partners and Climate Pledge signatories.
