The 2011 Global Microcredit Summit is offsetting its carbon emissions through a project implemented by MicroEnergy Credits and XacBank. The emissions reductions have been generated by over 400 insulation coverings used by gers, traditional felt homes in Ulaanbaatar, Mongolia. This carbon funding will enable microfinance households to access improved home insulation, which significantly reduces the amount of coal burned for home heating. The reduction in carbon emissions is also associated with a reduction in air pollution, a life-threatening health issue in Ulaanbaatar.
XacBank’s Vice President of Retail Banking, Delgerjargal Bayanjargal and MicroEnergy Credit’s CEO, April Allderdice, participated in the session, Accessing Carbon Finance through Clean Energy Lending Programs, which detailed how microfinance institutions can scale clean energy lending programs.
One Trackback
[...] Energy Credits and expect to receive 1 million carbon credits over the coming six years. Here is a press release from Micro Energy Credits about their cooperation with [...]