Expected to create around 11 000 jobs by 2030 and generate more than R8bn in economic value for local communities.
Spekboom is an indigenous succulent known for its ability to absorb and store carbon. Picture: iStock
Amazon has announced a major investment in one of the world’s largest nature-based restoration projects, committing to rehabilitate more than 50 000 hectares of degraded land in the Eastern Cape by planting 180 million spekboom shrubs.
The project is expected to create about 11 000 jobs by 2030 and generate more than $500 million (over R8 billion) in economic value for local communities.
Amazon expands
As part of the initiative, Amazon will purchase 1.95 million tonnes of nature-based carbon removal credits generated by the project, marking one of the largest carbon credit commitments in South Africa’s history.
“This is a story about nature, community, ingenuity and scale,” says Kara Hurst, Amazon’s chief sustainability officer.
The investment places South Africa within the expanding global market for nature-based carbon credits, as companies increasingly back projects that combine emissions reduction with economic development and environmental restoration.
Amazon project to support local economies
Hurst says the project illustrates how climate investment can extend beyond environmental objectives to support local economies.
“This project will restore the ecosystem and create jobs, [providing] a model for how nature-based solutions can enable both climate action and economic development.”
The indigenous succulent, known for its ability to absorb and store carbon, is expected to help restore biodiversity while improving the resilience of degraded landscapes to drought and climate change.
The deal also reflects growing demand from multinational companies for high-quality carbon removal credits that deliver measurable environmental benefits alongside employment opportunities and lasting value for host communities.
This article was republished from Moneyweb. Read the original here.
