1PointFive In 10-year Carbon Removal Credit Purchase Deal With Amazon

(RTTNews) - 1PointFive, a carbon capture, utilization and sequestration company, announced Tuesday Amazon's (AMZN) agreement to purchase 250,000 metric tons of carbon dioxide removal or CDR credits over 10 years.

The deal furthers Direct Air Capture or DAC as a viable carbon removal solution to help organizations further their climate goals.

1PointFive noted that CDR credits for Amazon will be enabled by its first commercial-scale DAC plant STRATOS, currently under construction in Texas. The plant could capture up to 500,000 metric tons of CO2 annually when fully operational. The company expects it to be the largest plant in the world.

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.

According to the Intergovernmental Panel on Climate Change or IPCC, the world needs to remove around 1 trillion tons of CO2 from the atmosphere over the course of this century to keep global warming below the 1.5 degrees Celsius limit set by the Paris Climate Agreement.

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."