As JP Morgan's Bruce Tozer mentioned briefly in our interview with him about his company's acquisition of UK offsetting pioneers Climate Care, the internationally recognized Gold Standard is likely to play a big role in maintaining consumer confidence in the credibility of carbon offsets. It's for this reason that Climate Care has been developing specific methodology to enable efficient stove technology to be accredited under the Gold Standard — allowing this hugely beneficial technology to benefit from the rapidly growing carbon market. The latest press release from the organization lays out why they see this as such an important development [for more on how efficient stoves save lives, check out the video Climate Care produced a little while back above]:
" To solve this problem efficient cooking stoves - or 'ecostoves' - have been designed and they have proved popular with families in pilot market trials. But there has been no widespread mass market adoption of ecostoves, although they are recognized by WHO as a top lifesaver, due to under investment. However the fast growing market for carbon reductions has opened up an important new source of finance: ecostoves cut carbon emissions. 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. Ecostove projects can now apply the methodology to calculate their carbon savings. 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."
We're sure that plenty of people will remain skeptical about the whole concept of offsets, but the fact remains that none of us will be able to cut our emissions to zero overnight. Until we can reach zero emissions, responsible use of accredited offsets can help channel funds to technologies that not only cut carbon dioxide efficiently and quickly, but save lives in the process too. For more thoughts on responsible offsetting, take a look at our guide on How to Green Your Carbon Offsets.
Note: The specific methodology document should apparently be available via Climate Care's projects website, but we are having trouble finding it — we have contacted Climate Care and will post an update as soon as it is available.
::Climate Care::via press release::