Apple purchases 100,000 carbon credits from Guyana – INews Guyana
Global tech company, Apple, has purchased 100,000 of Guyana’s carbon credits and retired them, in furtherance of its environmental sustainability efforts.
According to the company in its 2025 Environmental Progress Report, it bought 100,000 of Guyana’s carbon credits, becoming the second major company to purchase carbon credits from Guyana.
In December 2022, Hess Corporation bought US$750 million worth of these carbon credits.
Meanwhile, the carbon credits purchased by Apple are for the year 2019, meaning it purchased legacy carbon from between 2016-2020.
“The jurisdictional program includes all 18 million hectares of forest in Guyana — about 85 percent of the landmass — and enables the country to benefit from its historically low deforestation rate, while funding low-carbon development priorities,” Apple said in its report.
Apple has a record of purchasing carbon credits and retiring them, as it has also purchased and retired credits from countries like Colombia and Kenya. The company has also been carbon neutral as of April 2020.
Guyana earned US$237.5 million from carbon credits sales between 2022-2024, from the multi-year agreement with United States energy-major Hess Corporation.
For the period 2021 to 2025 in the Hess deal, Guyana’s carbon credits would be sold for US$20 per tonne, thus earning the country another US$250 million; while another US$312 million is expected during the 2025-2030 period when the credits would be sold at US$25 per tonne.
A carbon credit is a tradable permit or certificate that allows the holder of the credit the right to emit a stated tonnage of carbon dioxide or an equivalent of another greenhouse gas. Countries and companies that exceed their permitted limits can purchase carbon credits from nations that have low emissions such as Guyana.
