CREDUCE rolls out US $3.00 million smokeless cookstove distribution drive across Africa, India and South-East Asia – EQ Mag Pro
New Delhi: To ease the lives of the marginalized rural population, leading Indian carbon credits developer CREDUCE Technologies Private Limited launched the largest distribution and deployment of smokeless cookstoves in 18+ countries like Africa, India and South-East Asian countries.
In phase 1 of the five-year initiative, the company has earmarked $3million to procure and distribute 100,000 such efficient cookstoves during FY 22-23. The company aims to get carbon credits for the distribution and deployment of each cookstove. The drive will benefit the environment and the villagers, who use wood as fuel for cooking. The carbon credits derived from the initiative will be used by global leaders in IT, power, oil & gas segments.
Commenting on the development, Founder of CREDUCE Technologies Private Limited Shailendra Singh Rao, said, “The WHO now estimates that about 4 million deaths per year are due to indoor air pollution, primarily from cooking with wood or other biomass fuel, which are less efficient practices. Creduce technologies would work along with non-profit organizations for mass distribution and deployment of approximately two million smokeless and fuel-efficient cookstoves in next five years.”
Cookstove credits are carbon credits generated by cookstove projects to replace traditional, more polluting cooking methods with cleaner cooking methods.
Shailendra further adds, “This is a magnificent opportunity for Indian corporates to consider. They could not only commit their social responsibility funds to such projects but also gain carbon credits. Most projects face difficulties procuring finance. However, our structured carbon finance agreements have created opportunities for our stakeholders who are developing such sustainable energy projects and tools.”
CREDUCE will also put into action Prime Minister Narendra Modi’s call of Vocal for Local and Make in India movements with plans to buy and procure the cookstoves from Indian manufacturers only.
About CREDUCE
CREDUCE is a macro-scale organization headquartered in Ahmedabad (Gujarat), with recommendable expertise of highly qualified & seasoned professionals. With 12000+ MW renewable energy and other projects, 500+ Clients, CREDUCE is distinctively recognized as one of India’s eminent and leading knowledge and technology-based service provider. The domain of services is focused on various Renewable Energy, Environment, and Climate Change Mitigation advisory & Carbon credits development and trading services in the versatile domain.
