EcoSafi, a company specialising in biomass-fuelled cookstoves, has made headlines with a significant carbon credit deal from its clean cooking project in Kenya. The credits have been sold for as much as $35 per tonne of CO2, significantly higher than the typical rates for similar projects in Africa. This sale was announced by EcoSafi’s Chief Climate Officer, Matt King, during the Innovate 4 Climate 2024 event in Berlin.
Kenyan woman preparing a meal using a clean cookstove, embracing healthier cooking and sustainability. AI generated picture.
The credits originate from EcoSafi’s Kenya Biomass Gasification project, which replaces traditional charcoal-based cooking with clean-burning biomass stoves. These stoves utilise pellets made from renewable and residual biomass, drastically reducing emissions and contributing to environmental sustainability. All credits issued for 2024 have already been sold on a forward basis.
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At $35 per tonne, the sale price is notably higher than previous estimates and exceeds the average pricing for African cookstove projects, where credits typically range between $4 and $10.50 per tonne, depending on whether they include Letters of Authorisation (LoAs). These letters prevent double-counting of emissions reductions under national climate goals.
EcoSafi attributes its higher prices to its rigorous methodologies. The project tracks fuel consumption accurately and uses conservative baselines, ensuring transparency and reliability in its emission reduction claims. Despite yielding lower credit volumes than similar projects, this attention to detail allows EcoSafi to secure premium prices for its carbon credits.
Read more: DGB’s Kenya cookstove project: kicking off 2024 with sustainable impact
The company also emphasised the importance of carbon revenue in covering the costs of producing and distributing the clean stoves. Their fuel is still more affordable than alternatives like charcoal or LPG, helping to mitigate environmental harm while maintaining economic viability.
DGB Group is actively developing and implementing clean cookstove manufacturing and distribution projects across three countries, each at different stages of development. Our initiatives include the Hongera Energy Efficient Cookstoves Project in Kenya, the Sawa Cookstoves Project in Cameroon, and the Ethiopia Cookstoves Project. These projects are designed to not only reduce carbon emissions but also enhance the health and wellbeing of local communities by providing access to cleaner cooking methods.
Businesses and investors have a unique opportunity to support these projects in their early stages, securing their position in the emerging carbon market. By investing in DGB’s clean cookstove projects and their high-integrity verified carbon units, companies can contribute to nature restoration, improve lives in rural communities, and benefit from the growing demand for carbon units.
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