More than 100 organizations commit to new Principles to enhance
integrity, transparency, fairness, and sustainability in carbon
finance
PARIS, May 14, 2024
/PRNewswire/ -- At today's Summit on Clean Cooking in Africa, the Clean Cooking Alliance (CCA)
joined partners to release the Principles for Responsible Carbon
Finance in Clean Cooking (RCF). Focusing on integrity,
transparency, fairness, and sustainability, the Principles serve to
guide responsible conduct and enhance the confidence that buyers,
investors, households, and governments have in clean cooking carbon
markets.
"These Principles set a clear, consistent,
higher bar for organizations operating in clean cooking carbon
markets so that all transactions in these markets can be relied on
for their integrity, transparency, fairness, and sustainability." -
CCA CEO Dymphna van der Lans
The Principles, which more than 100 organizations have already
committed to, are the product of an extensive public process
initiated by CCA in 2023, with input from hundreds of stakeholders
engaged in climate finance and clean cooking. The Interim
Principles were developed through two public consultations that
involved 359 stakeholders from 267 institutions, followed by review
and approval by eight co-chairs. Earlier this month, the final
draft was then endorsed, through majority consent, by the RCF
Advisory Council, a group of 14 senior stakeholders from the clean
cooking and carbon finance sectors, convened by CCA.
"Carbon finance is transforming the clean cooking sector,
helping fill a significant funding gap while dramatically
accelerating access to cleaner stoves and fuels," said CCA CEO
Dymphna van der Lans. "These Principles set a clear, consistent,
higher bar for organizations operating in clean cooking carbon
markets so that all transactions in these markets can be relied on
for their integrity, transparency, fairness, and
sustainability."
CCA's latest industry trends report found that, among clean
cooking companies tracked by CCA, more than 20% of the record US
$100 million in revenue in 2022 came
directly from carbon credit sales, while it is estimated that the
vast majority of investments in clean cooking are directly or
indirectly related to clean cooking carbon projects.
"The Principles will help ensure accurate and fair carbon
methodologies that create a level and accurate playing field for
all clean cookstove project developers," said BURN CEO Peter Scott.
As of May 14, 2024, more than 100
organizations have endorsed the Principles for Responsible Carbon
Finance in Clean Cooking (view list here). Others may add their
organizations to the list by submitting this brief form to CCA.
Media Contact
Kip Patrick, Clean Cooking
Alliance, 2028879040, kpatrick@cleancooking.org,
https://cleancooking.org/
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SOURCE Clean Cooking Alliance