Now available! Cookstove Methodology Developed by ClimateCare

Contributed by Dr Karabi Dutta
15 June 2008

This methodology has been developed for large-scale projects disseminating improved cookstoves. It will help to launch large-scale programmes on and act as a guideline for the CDM small-scale projects

This methodology was developed by Climate Care for large-scale projects disseminating improved cook-stoves. The methodology will enable project developers to launch large-scale programs on the basis of detailed guidance for baseline and monitoring activities, and also acts as a guideline for projects using the CDM small-scale methodology.

In many developing countries the main sources of fuel are wood and charcoal, used for cooking on an open fire in the home. But burning fuel in this way has serious health implications, and UN studies show that smoky stoves kill millions and cause debilitating illnesses for many millions more. Much of the heat is lost rather than going into the cooking pot and this inefficiency means much more fuel is needed – and with wood often unsustainably harvested, this can contribute to deforestation.

One barrier to date for stoves accessing carbon finance has been the lack of a scientifically rigorous and practical method for calculation of their greenhouse gas savings, to allow these savings to be accredited and sold.

Now such a method is available. The ‘Methodology for Improved Cook-Stoves and Kitchen Regimes’, developed by JPMorgan ClimateCare, has been approved by the internationally recognised Gold Standard certification for voluntary carbon offsets.The Gold Standard accreditation allows the carbon savings to be sold at premium prices and so secures the crucially needed finance for mass market acceptance of the ecostoves.

Executive Director Edward Hanrahan says he is delighted that JPMorgan ClimateCare's hard work has been successful: “With world experts in our team and years of experience in this field, JPMorgan ClimateCare was well placed to develop this methodology. It will open up many more projects generating Gold Standard premium carbon credits, with the crucial funding that this provides.”

User: Tom Morton, Executive Director of Project Development (based in Nairobi, Kenya) stated: “This methodology is particularly significant for Africa, which has had little benefit from a carbon market that has so far tended to favour industrial scale projects. Ecostoves have huge potential on this continent – they could save over 100 million tonnes of CO2 (the same as the entire UK car fleet) and an area of rainforest the size of England annually, as well as thousands of lives – and we hope our methodology will bring these benefits to millions more families over the coming years.”

Bruce Tozer, Managing Director and Global head of Environmental Markets at JPMorgan said: "The highly innovative work done by the ClimateCare team on programmatic Gold Standard VERs illustrates why ClimateCare was a natural fit for the JPMorgan Environmental markets team. JPMorgan is devoted to providing clients with the highest-quality advice and execution in carbon emissions markets and we see real opportunities of leveraging this and other innovations under development across our origination group in all major geographies."

JPMorgan ClimateCare is funding several efficient stove projects, in locations such as Uganda, Ghana, Cambodia, Bolivia, China and Mexico which are expected to save well over 5 million tones CO2 over the next 5 years. It is submitting three projects immediately for validation using the new methodology, with the resulting Gold Standard credits being traded later this year.

The methodology document is available here (Note: If this link doesn't work then there's a copy of this report on the HEDON site, pdf file link Click here to access it (404 KB)).

About JPMorgan ClimateCare

ClimateCare was acquired by JPMorgan in April 2008, and integrated into JPMorgan’s existing world class Environmental Markets group. The combined group originates carbon emission reduction projects globally and trades the carbon emission reduction credits generated by these projects in the compliance and voluntary markets. JPMorgan ClimateCare invest in quality, large-scale carbon emission reduction projects with the aim of advancing the development of a liquid financial market that trades in carbon emission reduction credits.

About ClimateCare

ClimateCare is a world leading carbon emissions reduction company and offset provider, founded in 1997, making reductions of greenhouse gases such as CO2 on behalf of individuals and companies. ClimateCare’s Carbon emission reductions are made through originating and investing in a global portfolio of renewable energy and energy efficiency projects, many of which are developed by ClimateCare’s experts based around the world. The emissions reductions from all projects are independently verified and accredited under leading international standards such as GS VER, VCS and CDM and many bring huge benefits to people's health and welfare as well as helping to protect the climate.

About JPMorgan

JPMorgan Chase & Co (NYSE:JPM) is a leading global financial services firm operating in 50 countries with assets of $1.6 trillion, and is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase has its corporate headquarters in New York and its U.S. retail financial services and commercial banking headquarters in Chicago. Under its JPMorgan and Chase brands, the firm serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients.

About The Gold Standard

The Gold Standard for the international compliance and voluntary market is a NGO initiative. The Gold Standard provides a set of tools to develop emission reduction projects that result in real, additional emission reductions, promote the transition to sustainable energy systems and secure both local and global sustainable development benefits. Projects applying the criteria are awarded with the Gold Standard label for premium quality carbon credits. To date, over 60 NGOs internationally have endorsed the Gold Standard as formal supporters, including David Suzuki Foundation, Pembina Institute, WWF, REEEP, Greenpeace, and SouthSouthNorth. Informal support has been expressed by both business and government organisations.

For more information click here