The carbon emissions savings are generated by reducing wood burning. Access to clean water means that women no longer need to gather wood to boil the water to make it safe. Similarly, fuel efficient stoves require 60% less wood. Each tonne of carbon emissions savings becomes a verified carbon offset (credit) through the Gold Standard accreditation.
The carbon offsets generated will be traded on the Voluntary Carbon Market. Market demand for voluntary carbon credits comes from organisations and individuals who have taken an ethical decision to take responsibility for neutralising their carbon emissions and are part of the race to Net Zero. This is unlike the compliance carbon markets which provide carbon credits for large emitters of carbon.
The Gold Standard, initiated in 2003 by a group of NGOs, is currently supported by over 80 civil society groups around the globe. It is the most rigorous certification standard globally for carbon offset projects. Only projects which generate substantial social benefits on top of carbon emission reductions can be eligible for the Gold Standard. The Gold Standard ensures that energy efficiency and renewable energy projects actually reduce carbon dioxide (CO2) emissions. It is supported by the United Nations and many national governments and corporations.
CO2Balance has been chosen as the market partner for the Vita Green Impact Fund. CO2Balance is a founding member of the UN-recognised International Carbon Reduction and Offset Alliance (ICROA), specialising in project development and accreditation services. CO2Balance has established itself as one of the leading global players in the voluntary carbon markets while playing an instrumental part as the Gold Standard’s Technical Advisory committee. CO2Balance has traded millions of tonnes of carbon emission reductions and has provide voluntary emission reductions (VERs) to multinational companies such as Aviva , Sky, Toshiba and the BBC.