Energy
| Sector | Energy, Commodities |
| Sub-sector | Carbon |
| Location | Africa |
These fires burn solid biomass fuels, like charcoal and firewood that is often harvested unsustainably from live forests, causing ongoing deforestation to occur in many areas. Collecting firewood can also be incredibly time and energy intensive for women, often taking multiple hours where they risk muscle and spinal damage from carrying heavy loads.
Open fire cooking also releases toxic pollutants and harmful smoke into the atmosphere, which is damaging for the environment and causes significant health issues for those most exposed: predominantly women and children.
Distributing these free, thermally efficient cookstoves improves the health and well-being of low-income communities across the region and contributes to several of the UN’s Sustainable Development Goals (SDGs), which includes providing affordable and clean energy, improving good health and well-being (particularly for women and children), and promoting gender equality.
The program also delivers amongst the highest-quality types of carbon offsets by achieving immediate net emissions reductions at scale. The direct carbon impact is verified and validated through the industry-leading verification standards of Verra, while the social impact including contribution to SDGs will be certified through Verra’s Sustainable Development Verified Impact Standard (SD VISta).
CQC’s expertise in project design and implementation has enabled the program to deliver a real and transformative impact that goes above and beyond typical industry verification standards. For example, an innovative stove champion program provides employment to local community members who support the roll-out and adoption of the stoves by providing training and post installation follow-ups.
Outcome
Macquarie is combining our structuring capability with CQC’s subject matter expertise to jointly market carbon offsets from the Sub-Saharan Africa program and other similar CQC projects that are expected to generate over 200 million tonnes of abated carbon over the next decade.
The collaboration provides corporates and sovereigns with unique access to high-quality carbon offsets from an expansive and impactful investment program.
Macquarie is excited to expand our relationship with CQC, a leader in the development of carbon projects that deliver emissions reductions as well as a positive social impact. This extension of our activities in Sub-Saharan Africa forms an integral part of Macquarie’s offering in carbon finance and carbon markets where we bring capital, project development, and risk management capabilities.”
Erik Petersson
Executive Director
Commodities and Global Markets
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