Home » Amazon signs carbon credit deal with 1PointFive

Amazon signs carbon credit deal with 1PointFive

1PointFive, a carbon capture, utilization, and sequestration company, has announced that Amazon agreed to purchase 250,000 metric tons of CO2 removal credits over 10 years.

The agreement can allow more capable direct air capture (DAC), for companies to complete climate goals.

1PointFive’s first commercial-scale DAC plant, STRATOS, will allow for the credit for Amazon. The plant remains in construction.

It claims the plant can capture 500,000 metric tons of CO2 every year once operational.

1PointFive plans to store the captured CO2, underlying the CDR credit, in saline reservoirs that are not related to oil and gas production.

What the parties, 1PointFive and Amazon. say –

Michael Avery, President and General Manager of 1PointFive, said, “Amazon’s purchase and long-term contract represent a significant commitment to direct air capture as a vital carbon removal solution,”

“The addition of 1PointFive’s high-integrity, quantifiable carbon removal credits support Amazon’s path to achieve net zero and shows the growing role that DAC technology will play in decarbonization pathways. We are excited to collaborate with Amazon to help them achieve their sustainability goals.”

Kara Hurst, vice president of worldwide sustainability at Amazon, said, “Amazon’s primary focus is to decarbonize our global operations and reach net-zero carbon by 2040 through our transition to renewable energy, building with more sustainable materials and electrifying our delivery fleet and global logistics.”

“We are also pursuing changes such as reducing the weight of packaging per shipment for our customers. At the same time, we also need to seek every possible avenue to reduce carbon in the atmosphere,”

“These investments in direct air capture complement our emissions reductions plans and we are excited to support the growth and deployment of this technology.”

Source: https://www.oxy.com/news/news-releases/1pointfive-and-amazon-announce-10-year-carbon-removal-credit-purchase-agreement/