Amazon is aiming for net zero
Amazon backs Texas DAC project with ten-year offtake
Online retailer prebooks credits to be generated by 1PointFive’s Stratos project in Ector County
E-commerce firm Amazon has agreed to buy 250,000t of carbon dioxide removal (CDR) credits from the Stratos direct air capture (DAC) project, which is being developed in Texas by Occidental subsidiary 1PointFive. The credits will be supplied over a period of ten years. Under the agreement with Amazon, the captured CO₂ underlying the CDR credits will be stored in saline reservoirs that are not associated with oil and gas production. “Amazon’s purchase and long-term contract represent a significant commitment to DAC as a vital CDR solution,” said Michael Avery, president and general manager of 1PointFive. “The addition of 1PointFive’s high-integrity, quantifiable CDR credits support Amazon’s pa
Also in this section
5 December 2024
Completion of phase-one construction expected in 2027 as technology providers SLB and Linde take equity stakes in one of world’s largest CCS projects
5 December 2024
The new edition of Outlook, our annual publication about the year ahead for energy, produced in association with White & Case, is available now
27 November 2024
The agreement by the parties to raise at least $300b/yr for developing countries by 2035 was derided as a betrayal by the Global South, but the UN urged pragmatism
26 November 2024
Agreements on how to operationalise both Article 6.2 and 6.4 will mean countries can start to trade emissions reductions as part of their contributions to the Paris Agreement
