Cartesian Backs BURN Manufacturing to Boost Clean Cooking Access in Africa
Cartesian, a private equity firm focused on decarbonization, has invested in BURN Manufacturing through Key Carbon. This move aims to enhance access to clean cooking appliances in Africa, reducing carbon emissions and improving lives.
BURN Manufacturing, a global leader in clean cookstoves, has acquired an investment from Key Carbon Ltd. This investment, backed by Cartesian, will boost the distribution of electric and biomass stoves in Africa. The goal is to benefit around 1.5 million people and prevent over 12 million tons of carbon emissions in the next two years.
BURN aims to secure $1 billion in carbon financing to ensure every household in Africa has access to a clean cooking appliance. Key Carbon is facilitating this by drawing institutional investors to the Voluntary Carbon Market (VCM) for climate and biodiversity efforts. Currently, 950 million people in Sub-Saharan Africa rely on traditional cooking fuels, leading to health, environmental, and economic issues. BURN's cookstoves have already benefited over 24 million people since 2014, and the company has lowered their prices due to carbon financing, making them more affordable for lower-income families. Cartesian highlights the health, life quality, and environmental benefits that BURN's cookstoves bring.
The investment from Cartesian, facilitated by Key Carbon, is set to directly benefit around 1.5 million individuals and prevent 12 million tons of carbon emissions. This initiative aligns with BURN's mission to provide clean cooking solutions to every household in Africa, contributing significantly to the fight against climate change.
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