MicroEnergy Credits (MEC) is a social enterprise that enables Microfinance Institutions to receive revenues from the Carbon Markets when they lend for clean energy technologies such as improved cookstoves, solar home systems and biogas digesters. MEC was incorporated in 2007, and launched in May of 2008 after winning first place in the Global Social Venture Business Plan Competition.
MicroEnergy Credits has partnered with EcoSecurities to provide a unique carbon finance option for microfinance institutions with no minimum project size and no upfront transaction costs. MicroEnergy Credits also provides implementation services to help MFIs rapidly scale up their clean energy product lines.
MEC provides the handshake between the carbon markets and the microfinance industry by automating the monitoring and tracking of carbon offsets using a mobile phone- and gps-based web technology. Building on existing Microfinance loan monitoring processes provides unprecedented transparency into the validity of the carbon offset projects. This creates carbon credits that are both investment grade, and demonstrate tangible social benefits.
MEC’s vision is that getting on a clean energy path with become an integral step of every microentrepreneur’s journey out of poverty.
