Lead with Integrity, Execute with Excellence, Build Together: Unlocking the Full Promise of Clean Cooking Carbon Credits
When I first stepped into the clean cooking carbon market three years ago – after years working with the financial sector to make it more inclusive and pro-poor – I wasn’t sure what to expect. What I found was a sector full of potential, and grappling with complex but familiar challenges. It reminded me of where the financial system was 30 years ago, when the idea of serving low-income communities at scale still felt ambitious and unproven. But if we could transform financial systems to work better for those who needed them most, why not carbon markets, too?
I was thrilled to find a new challenge with the same opportunity to build something more inclusive, impactful, and lasting.
But I would not have predicted that, on a crisp February morning, I would be walking into the New York Stock Exchange to launch the Buyer’s Guide for High-Quality Clean Cooking Carbon Credits.
This wasn’t just another industry event. It brought together an unusually broad and diverse group: buyers and sellers, investors and brokers, competitors and collaborators – all there not just to talk, but to figure out how to move forward together. The vibe was honest, thoughtful, ambitious. And above all, there was a shared sense that this market is on the cusp of something bigger – and now is the moment to lead with integrity and ambition.
Of course, the launch of the Buyer’s Guide was the official reason we gathered. (You can read the guide here.) But what happened in the discussions went well beyond that. It was a real-time snapshot of where the clean cooking carbon market stands today – its tensions, its opportunities, its future.
And what I heard was this: if we want this market to thrive, we need to get serious about quality, trust, and delivery – and we need to do it together.
Six big themes emerged from the discussions, pointing to what it will take to build a high-integrity, high-impact market.
1) The business case for clean cooking has never been stronger. If you’re looking for high-impact credits with immediate, measurable results, clean cooking stands apart. These projects don’t just cut emissions; they transform lives. They protect forests, improve health, empower women, and strengthen local economies. And with constant improvements in monitoring and verification, the ability to demonstrate that impact is only getting better. The debate isn’t whether clean cooking matters – it’s how fast we can scale it.
2) The market is hungry for clarity – and action. As demand grows, confusion still clouds the market. What defines quality? How do you compare projects? How do you know if you’re paying the right price? These are questions buyers and sellers are still wrestling with. But clarity alone is not enough. Buyers also face real complexity in procurement: structuring fair deals, choosing the right partners, balancing cost with credibility. The consensus in the room was clear: we don’t solve these challenges by waiting for perfect answers. We solve them through better data, sharper methodologies, and shared standards that give buyers confidence to act – without slowing down progress. The ICVCM announcement makes this pathway even more robust, giving buyers greater confidence in high-integrity investments.
3) We can’t eliminate all risk – but we can decide how we respond. At one point in the discussion, someone raised the question of fraud. What do we do when things go wrong? Do we stop everything? Do we try to build a market with zero risk? Or do we accept that no market – whether carbon, finance, or anything else – can ever be completely free of bad actors, and focus instead on how we handle those moments when they come?
There was a shared sense in the room that responsibility doesn’t mean shutting down at the first sign of trouble. It means being ready – having the right checks in place, strengthening systems over time, and making sure that isolated incidents don’t undermine the trust. That’s what striving for a responsible carbon market really looks like – acknowledging that challenges will come but committing to respond with integrity and transparency – something the sector is now working to formalize through clearer norms, principles, and codes of conduct.
4) Conservatism is not the same as quality. One of the most refreshing moments was the shared frustration with the idea that “more conservative” is automatically better. That’s a myth this market needs to leave behind. What matters is accuracy through scientific rigor, not unnecessary discounting or worst-case assumptions. Excessive conservatism doesn’t just undercount impact – it risks undermining high-performing projects and discouraging investment. The goal isn’t to shrink the numbers; it’s to get them right.
5) Commoditization – or something more? One of the more provocative debates was how far carbon credits – like those from clean cooking – can, or should, be commoditized. After all, if we’re serious about meeting climate goals quickly, particularly as compliance pressures grow, some degree of commoditization is essential to unlock scale and liquidity. But others questioned whether that alone captures the full value of clean cooking, which delivers not just carbon reductions but healthier homes, protected forests, and empowered communities. Perhaps the challenge is building a market that balances both: standardization for scale, and differentiation for impact.
As voluntary markets converge with frameworks like Article 6 and CORSIA, clean cooking is showing how this can work – offering corporates a tangible and impactful way to take responsibility for their emissions on their journey to net zero.
6) Markets are built by people – and this one depends on us. If there was one truth everyone seemed to agree on, it’s this: clean cooking carbon credits will only succeed if buyers and sellers succeed. Developers need investment to keep delivering high-quality projects. Buyers need confidence to invest boldly and responsibly. And the rest of us – standards bodies, platforms, investors, and enablers – need to focus our efforts on making sure those relationships thrive.
As one participant put it, we’re getting a lot of things right. Governance is stronger. Standards, methodologies and project implementation are all improving – each a critical layer in ensuring quality execution, which will ultimately build the trust this market depends on.
And maybe one more thing…
There was also some quiet – but intriguing – buzz in the room. A few buyers and investors floated the idea of coming together in something looser than a formal coalition, but stronger than ad hoc conversations. Call it a club, a circle, a network – whatever the name, the idea was clear: a space to share insights, align on what quality really means, and push the clean cooking carbon market forward together.
It’s just an idea for now, but I believe it’s worth exploring.
If you think so too, email me at carbon@cleancooking.org. I’d love to hear if this is something you’d want to be part of.
After all, the best markets don’t just happen. They’re built by people who show up and stay in the game together.
