Greenway Partnered with CCA to Develop Carbon Programs in India and Africa
India-based cookstove designer, manufacturer, and distributor Greenway Grameen (Greenway) has sold over 1.2 million efficient wood stoves in India, Nepal and Zambia. Utilizing their network of over 200 community-based organizations, Greenway has seen encouraging success in the marketing of their flagship product: a single burner, efficient biomass stove with a patented airflow technology.
In 2018 and 2019, the company saw a 50 percent increase in their sales growth, and project an additional 25 percent increase throughout the next year. Greenway has also expanded to Sub-Saharan Africa, starting their operations in Zambia.
The Clean Cooking Alliance’s (CCA) Venture Catalyst Program has partnered with Greenway to set up a carbon program in India and facilitate related investment in Zambia. To do this, CCA has supported Greenway through:
- Technical and financial support to set up a voluntary carbon program under Gold Standard in India.
- And investment due diligence for a debt transaction for company’s Zambia operations.
Apart from adding new revenue streams for the company, the carbon program will also provide financial incentives to the company’s network of 600 community-based agents in India and 64 agents in Zambia currently working on Greenway’s interventions. Greenway has already demonstrated the strength and scalability of its business model with all their sales to date having no subsidy or carbon revenue support. Through this partnership, Greenway hopes to bring clean cooking solutions to more families around the world who live without them by reaching a new set of community partners and customers.
“We are grateful for CCA’s support in enabling a new line of business for us (carbon markets). The impact of clean cooking on climate change has always been evident, but it has been challenging for enterprises like ours to access the climate and carbon markets to supplement and accelerate our work.”
– Neha Juneja, Co-Founder of Greenway