MEC India Program - Microfinance for Induction Cookstoves: Audited Documents

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Posted: December 11, 2023

In line with our commitment to transparency and integrity, we are providing all details of and access to audited documents pertaining to our carbon programs here. This initiative aims to ensure that stakeholders have access to program details and documentation in an easy-to-use way.

MicroEnergy Credits - Microfinance for Clean Cooking Product Lines

MicroEnergy Credits (MEC) - Microfinance for Clean Cooking Product Lines – India PoA is initiated to address environmental and developmental concerns in peri-urban areas of India. Targeting regions with a prevalent use of non-renewable biomass and fossil fuels for cooking, the PoA aims to distribute induction cookstoves, reducing greenhouse gas emissions and fostering sustainable development. This voluntary initiative, led by MicroEnergy Credits Corporation Private Limited, operates within peri-urban zones, where boundaries are porous and transitory between rural and urban environments. With a focus on reducing health impacts, such as respiratory diseases, associated with inefficient cooking devices, the PoA utilizes the Gold Standard approved methodology for energy-efficient cooking devices.

The distribution of induction cookstoves not only improves living conditions but also lessens pressure on local forests, contributing to a wide range of sustainability benefits. MEC, as the Coordinating Entity, collaborates with microfinance institutions, overcoming historical barriers to introduce clean energy products to micro entrepreneurs. Utilizing carbon finance, MEC addresses challenges like the lack of upfront finance, awareness, and after sales service. The comprehensive approach involves product development, training, and a transparent carbon credit monitoring system to quantify emission reductions. The resulting carbon finance is then used to expand and sustain the clean energy program, covering aspects like client education, internal training, on-lending funds, aftersales service, and reduced costs for clients. MEC coordinates with Partner Organizations (POs) for the dissemination of induction cookstoves, and the electronic Credit Tracker Platform ensures accurate tracking, preventing double-counting of installations.

Audited Documents

 Document Name
1VPA Design Document for GS 12067
2Monitoring Report for GS 12067    
3GS4GG Verification Report

Click here to see the project details in the Gold Standard Registry.

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Our mission is to empower every microfinance community with access to affordable and innovative clean energy solutions, while moving towards a world free of both poverty and climate change.