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Investing.com -- Amazon (NASDAQ:AMZN) has started offering carbon credits to its suppliers, business customers, and other companies, aiming to help them offset their carbon emissions that contribute to climate change. This is the first time the U.S. retail giant has ventured into selling credits, although it has previously been involved in industry efforts to set quality standards and has directly invested in projects aimed at protecting forests, restoring degraded land, and advancing carbon removal.
The company stated that it adheres to industry-leading standards for its credits when available, and supports the development of rigorous standards when existing checks are not sufficient. Amazon’s chief sustainability officer, Kara Hurst, emphasized that the company aims to use its size and strict vetting standards to encourage more investments in nature.
Several companies including Flickr, real estate advisory group Seneca, and consumer electronics company Corsair have already joined the scheme, according to a statement released by Amazon on Wednesday.
Amazon clarified that its credits would be accessible to companies that fulfill certain conditions. These include having a net-zero target covering their own emissions as well as those across their supply chain, and measuring and publicly reporting their greenhouse gas emissions.
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