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Canadian firm's major move to expand clean cookstoves in Africa

Key Carbon, a Canada-based financier, has joined forces with Cartesian Sustainable Finance 1 (CSF), linked to the US's Cartesian Capital Group, in an ambitious $18 million carbon financing arrangement. This deal aims to escalate the production and distribution of environmentally friendly cookstoves across Africa, marking a critical step in addressing energy efficiency and pollution on the continent.

Canadian firms major move to expand clean cookstoves in Africa_ African woman preparing a meal using a charcoal clean cookstove_visual 1Woman preparing a meal using a charcoal clean cookstove. AI generated picture.

Key Carbon's investment will not only amplify the availability of electric and charcoal clean cookstoves but also foster support for new developers in the voluntary (verified) carbon market (VCM). This initiative is set to benefit from both fresh funding and the partial divestment of previous investments, the specifics of which remain under wraps.

Read more: Igniting change: DGB’s cookstoves revolution in Cameroon

Notably, Key Carbon plays a pivotal role as a strategic backer of Burn Manufacturing, a leading cleaner cookstove manufacturer. This partnership entails direct financial aid and operational support to scale the production of affordable cooking solutions. According to Peter Scott, Burn's CEO, last year's $25 million funding from Key Carbon was a game-changer, fueling the ambition to attract $1 billion in carbon financing. This vision aims to equip every African household with a clean cooking appliance, promising to reach an additional 1.5 million people with the latest funding.

Read more: Bullish growth projections in the carbon market

Beyond manufacturing, Key Carbon is instrumental in promoting environmental action, offering high-integrity carbon credits directly to purchasers. However, finer details about the expansion, such as the specific African countries involved, the mechanism for generating carbon credits, and project timelines, remain undisclosed. 

As the carbon markets expand and transform, nature-based solutions (NBS) increasingly play a pivotal role. This expansion is propelled by the growing demand for carbon credits (carbon units), typically produced through initiatives such as reforestation. Such initiatives are vital not only for meeting environmental objectives but also for providing a practical means for people, businesses, and governments to participate in worldwide efforts to lessen carbon emissions. They play a crucial role in restoring ecosystems, protecting biodiversity, and improving the health and wellbeing of communities and the planet alike. 

DGB Group stands at the forefront of developing impactful NBS. Our energy-efficient cookstove projects in Kenya and Cameroon distribute thousands of cookstoves to local households, helping to improve indoor air quality and reduce deforestation. These projects also provide many job opportunities for locals and help to save time and money by reducing the need for firewood. We invite you to explore these projects and the many benefits they offer to the environment, local communities, and your business’ carbon compensation strategy.

Join our webinar this week: Carbon Units for Beginners

Our NBS, such as energy-efficient cookstove projects and reforestation, present a chance for individuals, organisations, and investors to tap into the carbon market and the surging demand for carbon units. We are equipped to assist you in calculating, minimising, and offsetting your carbon footprint with credible, verified carbon units from our impactful projects.

Discover how you can help support local communities through DGB’s carbon units

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