Alliance Climate Finance Plans for 2015
Climate finance has a key role to play in the development of a global market for clean cookstoves and fuels. In order to increase access to climate finance the Alliance is:
- Raising the profile of the clean cooking sector with potential buyers to increase demand for clean cooking carbon offsets;
- Fostering linkages between the REDD+ (Reducing Emissions from Deforestation and Forest Degradation) and clean cooking communities.
Increasing demand for offsets
Clean cookstoves can conservatively save one metric ton of carbon dioxide (CO2) emissions per year under the right conditions, while many models can save two to four times that amount. These emission reductions can be certified and sold through global carbon markets, generating significant revenue for the stove businesses and providing options for keeping prices low for the consumer. Due to the current low demand for carbon offsets in compliance markets such as the European Emissions Trading Scheme, the voluntary carbon markets have become a more important source of finance for clean cooking carbon projects. In 2015, the Alliance will promote the clean cooking sector within the carbon finance and corporate sustainability communities, and engage the private sector on the value of carbon offsets from clean cooking projects. The Alliance will attend key conferences and co-host targeted events to raise the profile of the social and environmental benefits of clean cooking offsets.
Linkages to REDD+
A recent analysis done by Climate Focus for the Alliance found that woodfuel use is responsible for around 800 MtCO2 per year, equivalent to 2% of global greenhouse gas (GHG) emissions. The study also found that adoption of clean cooking technologies could reduce GHG emissions by as much as 214 MtCO2 per year, and dedicated woodfuel plantations would reduce GHG emissions by a further 734 MtCO2 per year. The international mechanisms known as Reducing Emissions from Deforestation and Forest Degradation (REDD+) represents a promising source of finance for clean cookstoves and offers synergies in addressing forest degradation, as well as delivering other social benefits. The Alliance will maximize access to REDD+ financing opportunities for the clean cooking sector by brokering partnerships and knowledge sharing between REDD+ and clean cooking stakeholders and project implementers.
To hear more about the Alliance’s plans to increase access to climate finance in 2015 please join our webinar on Thursday Feb 5th from 3 to 4:30pm GMT. To register please e-mail firstname.lastname@example.org.