Apple purchases carbon credits from Guyana. Apple purchased 100,000 carbon credits from Guyana at US$15 each, totalling US$1.16mn, as part of its environmental sustainability efforts. These credits, from the 2019 vintage, support Guyana’s jurisdictional programme protecting 18mn hectares of forest, covering 85% of its land. Apple is the second major company to buy Guyana’s carbon credits, following Hess Corporation’s US$750mn purchase in 2022. Guyana earned US$237.5mn from carbon credit sales between 2022-2024 under an agreement with Hess, with projected revenues of US$250mn (2021-2025) and US$312mn (2025-2030) as prices rise. Carbon credits enable emissions trading to offset greenhouse gases.
Source: Caribbean Insight