Continued commitment to Low carbon development

Oct. 22, 2012 - PRLog -- Carbon project developer co2balance has reconfirmed their commitment to the development of high quality carbon reduction projects, with the announcement of three further projects which have now completed the critical Registration approval with the Gold Standard, making them truly shovel ready for investment.
The three projects all located in Kenya will add significant capacity to the co2balance existing portfolio in East Africa.  The locations in West Kisumu, Meru and Msambweni will involve the manufacture and distribution of up to 60,000 Improved Efficiency Cookstoves to some of the poorest households in these areas. The project will have multiple impacts in the community. A reduction in wood fuel required of around 50% saves time and money for the households, reduces the risk to women and children foraging for fuel, as well as helping to prevent deforestation, that leads to soil erosion.  Equally serious is the improvement in health outcomes for the 300,000 + people who will live in homes with up to 70% less smoke pollution than cooking on their traditional open fires.  In terms of net carbon reduction these projects combined will deliver over a million tonnes of verified carbon reduction over their initial seven year lifecycle.
Reaching the Gold Standard Registration point for these projects is the critical step for securing investment, having proven through rigorous third party evaluation the project design, implementation and ongoing support and maintenance plans, as well as securing both local governmental approval and the full support of the local community.
At a time when many carbon project developers are pulling back from further investment, particularly in relation to the compliance market CDM program, co2balance continues to press ahead with investment in voluntary market projects. Strong demand remains from voluntary carbon buyers who are keen to support high quality projects that deliver great social health and welfare returns in addition to carbon savings.  .
Highly prized by European corporate buyers quality carbon projects originating in Africa are still fairly rare, and the carbon credits they produce are in particular demand. With their direct and positive impacts in host communities, cook stove projects are amongst the most difficult carbon reduction projects to deliver to the exacting requirements of the Gold Standard. With over five years experience on the ground developing and delivering successful programs in Africa, co2balance have a proven track record in this area and are acknowledged experts in the field.  
co2balance are actively seeking financial support from investors , corporate institutions or other interested parties looking for an ethical or carbon related opportunity.  They are currently receiving a lot of interest from industries associated with the region who are keen to support these innovative projects based in their supplier communities by way of corporate social responsibility budgets. Following an initial investment to establish the projects on the ground each project is self sustaining from the carbon revenues achieved, making them a particularly attractive long term investment from a CSR perspective.
Interested parties should contact co2balance directly.


Note to Editors;
co2balance
Established in 2003, co2balance UK Ltd is a leading, UK and Kenya based, carbon management provider offering carbon calculation, management and reduction services to leading blue chip companies including, BSkyB, Toshiba Europe, Gaz De France, Fiat and Flybe.  As a project developer co2balance UK Ltd creates African Gold Standard and CDM projects that focus on social, health and community benefits to the families within the project area, in addition to carbon savings.  In 2011 the business extended its range of project support services and now assists other project developers with the complex process of approvals and documentation, to meet the requirements of the main international standards bodies. Co2balance are approved specialist project developers under the United Nations CDM Loan scheme.

The Gold Standard
The Gold Standard Foundation is a Swiss based, non-profit organization providing certification of premium quality carbon credits in both the voluntary and compliance markets. The thorough and extensive methodology and approval process of the Gold Standard is designed to certify the highest quality energy efficient and renewable energy carbon reduction projects. All Gold Standard certified projects demonstrate real and permanent GHG emissions and sustainable development for the local communities that are measured, reported and verified.
Certification is not awarded easily. It requires a project to submit substantial quantitative and qualitative research as well as to verify carbon savings and sustainability claims by an outside third party. In addition, each project commits to long term follow through and continued evaluation. Therefore, “Gold Standard certified” implies the most rigorous review of VER credits available on the market. Its VER registry is characterized by transparency and equality of access for all market participants.
The Gold Standard quality benchmark is derived from the actions of the Kyoto Protocol and its methodology is currently endorsed by over 70 non-governmental environmental and development organizations worldwide. The backing of this wide variety of supporters boosts the integrity of the Gold Standard and allows its credits to be sold at a premium price.
Contact details :
Email; Steve.hewson@co2balance.com
Tel; 01823 332233
co2balance
1 Discovery House
Cook Way
Taunton
Somerset
TA2 6BJ
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