Final Hurdle Cleared for Secure Ethical Investment in East Africa

UK project developer co2balance achieve United Nations Registration for their ambitious carbon reduction project in East Africa, paving the way to improve thousands of lives and reduce carbon emissions.
By: co2balance.com
 
June 11, 2012 - PRLog -- UK based carbon management company co2balance has achieved registration for its POA (1) for Kenya from the United Nations under their Framework Convention on Climate Change or (UNFCCC).

This is the first cook stove CDM project in East Africa  to complete a positive Validation and achieve Registration. It follows  several years of  research and development from co2balance working on the ground in Sub Saharan Africa, who already have several Gold Standard cook stove projects Registered and in Verification

The  Registration process follows a stringent scientific assessment and Validation of the project by an independent DoE(2). This formal step confirms that the methodologies employed to deliver carbon savings together with social, health and welfare benefits for some of the poorest communities in Africa, work in practice on the ground, generating Certified Emissions Reductions and not just as a theoretical good idea.  

The project is now moving forward to the implementation phase with the stoves being installed in several areas across Kenya. During the project installation phase circa 300,000 of the poorest families will receive the energy efficient stoves, reducing their household fuel burden by 50% saving time and money whilst protecting endangered forestry regions from over exploitation.  In addition to the reduction in fuel the families experience a significant health benefit as the stoves reduce the indoor smoke pollution by over 70%. As pneumonia kills more people in Kenya than Malaria this is a massive contribution to the health of the community, for many years to come.

The first phases of the project (aka CPA1 and CPA2) are being financed by several global investors whilst further CPA’s will be put in place as funding is secured over the coming months.(3)  

Mark Simpson founder and Managing Director of co2balance said of this milestone “Delivering what is our first of many POA’s to UNFCCC registration4 is the culmination of many years’ research, development and hard work both in the UK and on the ground in Africa. We now have proven our technology and project management capability, together with the crucial widespread community support and acceptance of the projects crucially needed to make them a long term success.”

1 The POA or Program of Activities is a framework within which a series of small projects or CPA’s can be evaluated in a simple process. This enables project developers to validate a project once and replicate the delivery within a predefined geographic area.
2 DoE is the designated operational entity, an independent auditor accredited by the United Nations backed CDM Executive Board to validate project proposals or verify whether implemented projects have achieved planned greenhouse gas emission reductions.
3 Investors interested in supporting this project should contact co2balance directly for further information.
4  United Nations reference number for this project UNFCCC 00005336POA
End
Source:co2balance.com
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Tags:Carbon, Investment, Cdm
Industry:Environment
Location:Taunton - Somerset - England
Subject:Projects
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