By Jean Marie Takouleu - Published on May 24 2022 / Modified on May 24 2022
A new initiative is being launched to improve access to clean cooking and drinking water in sub-Saharan Africa. The project is led by Community Carbon, an environmental services company based in Maputo, Mozambique. Focusing on Eastern and Southern Africa, the initiative will benefit from $20 million in funding recently pledged by Carbon Streaming Corporation, a financial services company with a focus on sustainable development.
The funding from Carbon Streaming Corporation will be allocated in several tranches, the first of which is $6.5 million. The remaining $13.5 million in funding will be paid out as Community Carbon’s projects are implemented.
The company has “created a way for companies to invest in emissions reductions that help them meet their climate goals while directly benefiting the people and communities most affected by energy poverty, deforestation and the climate crisis,” says Matt Evans, co-founder and chairman of the UpEnergy Group. As part of this vision, Community Carbon, with the new funding, plans to deploy 3.5 million cleaner, fuel-efficient stoves.
The company also plans to distribute water purification devices in five countries in eastern and southern Africa. According to the company, its project will reduce emissions by 50 million tonnes of CO2 equivalent over the next 15 years, while saving households $150 to $200 in annual fuel costs.
Most importantly, Community Carbon plans to reinvest a portion of the project’s revenues back into communities for additional activities that help build long-term climate and community resilience. Community Carbon’s first impact fund is thus expected to focus on education and empowerment of women and girls, who are often disproportionately affected by climate change. The project the company is committing to in sub-Saharan Africa will be implemented over the next two years.
Join the green economy community in Africa, by becoming member of the Afrik 21 Group on Linkedin > Join
Subscribe to the English newsletter of the actors for green economy in Africa and receive it by mail each morning on Mondays, Wednesdays and Fridays..
I accept the terms&conditions Read
Afrik 21 is published by Publishing 21, 242 bd voltaire, 75011 paris, France Siret 838399186 00077 Paris Write us
> Editorial staff Editor in chief : Jean Marie Takouleu > Advertising Brand content & display : Appoline Chaminade > Management Publisher : Stephan Haushofer
> Legal mentions > About us > Copyright and reproduction rights > Data processing and liberties > Cookies > Liability of the Publisher
When you browse on this site, cookies and other technologies collect data to enhance your experience and personalize the content you see. Visit our Privacy Policy to learn more. By clicking "Accept", you agree to this use of cookies and data.
I accept the terms&conditions Read