All CO2 emissions of NpM Green Inclusive Finance Conference compensated!

9 December, 2015

The NpM Green Inclusive Finance Conference (22 Sept.) compensated its 14 ton CO2e emissions via investing in one of Fair Climate Fund's carbon projects: an improved cooking technique project in South Africa.

The NpM Green Inclusive Finance Conference (22 Sept.), organised by NpM, FMO and Hivos, created the opportunity to (further) enhance the focus on 'green' (environmental) impact in the inclusive finance sector. 

In order to 'walk the talk' and compensate the 14 ton CO2e greenhouse gases (i.e. caused by international flights, catering, electricity use, etc.) emitted by (the organisation of) the conference, NpM cooperated with Fair Climate Fund (FCF) to translate the emissions into something positive: investing in the Basa Magogo project, South Africa.  

The Basa Magogo project

The Basa Magogo project (”light it up, grandmother”) is a method which requires 50% less fuel and reduces the emission of contaminants up to 90%. This improved cooking technique project is the first registered Gold Standard project of its kind in the world. The project changes coal lighting behaviour through a locally integrated programme whereby township locals demonstrate the Basa Magogo way to light a coal fire to households. The result is a more fuel efficient and cleaner burning fire thereby reducing carbon emissions and negative health impacts.

Gold Standard

FCF only invests in projects that qualify for a Gold Standard Certification. Gold Standard guarantees the additionality of the project and the environmental and social benefits locally. It is the highest standard at the moment.

Local Benefits 

  • Economic: Coal purchase savings average 40 euro per household per year, additional time for economic activities, and savings in health costs are more difficult to quantify but based on several well-documented surveys it is estimated to be at least 10 times more than the coal savings;
  • Household level: Studies by the Council for Scientific and Industrial Research in South Africa also show that the time needed to reach cooking temperature using Basa Magogo was 10 minutes compared to 60 minutes for the conventional heating method;
  • Health: 90% reduction in indoor smoke and 80% reduction in ambient air pollution, better visibility and reduced health risk; and
  • Environment: 50% less coal is used to produce the same amount of heat and so 300.7 kg less coal is used by households per year. This works out to 1.3 tons of CO2 reduced per family per year!

Fair Credits 

The costs of implementing the project are 100 %covered by the sales of carbon credits by FCF. Carbon finance has made Basa Magogo demonstrations possible in the townships of South Africa.

NpM received an official certificate (in Dutch) for its CO2e emission compensation. For more information about compensating your CO2e and about climate neutral solutions, click here

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