COP29: Future growth scenarios in the clean cooking sector
Future growth scenarios in the clean cooking sector – Role of carbon finance to scale up activities
Date & time: 14 November, 13:00-13:45 (GST/GMT+4)
Location: COP29 venue, Nordic pavilion (C13), Blue Zone & Online
The Modern Cooking Facility for Africa is arranging a side event during Finance day on 14 November at the Nordic pavilion during the UN Climate Change Conference (COP29), which is taking place from 11-22 November 2024 in Baku, Azerbaijan.
Watch the event recording
See the COP29 event recording on Nefco’s YouTube channel.
Event description
Responsible carbon finance can enhance project economics and unlock new opportunities for commercial lending and other funding streams in the clean cooking sector, accelerating the scale-up of high-technology clean cooking solutions to strengthen climate resilience in Africa, achieving significant health outcomes and empowering women and girls.
The recently launched Principles for Responsible Carbon Finance for clean cooking aim to generate sustained demand for high quality credits which will command premium pricing and facilitate the allocation of significant capital to clean cooking carbon projects.
The Modern Cooking Facility for Africa (MCFA) pledges to mobilise public and private finance by supporting the generation of high integrity carbon credits in its portfolio.
Event agenda
13:00: Welcoming words by Ash Sharma, Head of MCFA and Vice President, Nefco – the Nordic Green Bank
13:05: Opening words by Hans Olav Ibrekk, Special Envoy, Climate and Security, Section for Energy, Climate and Food Security, Norwegian Ministry of Foreign Affairs
13:10: Panel discussion with Margaret Kim, Chief Executive Officer, Gold Standard, Tom Price, Co-Founder/CEO, EcoSafi the Better Cooking Company, Ruth Gichuhi, Senior Manager, EED Advisory
13:40: Q&A session
Moderator: Ash Sharma
Speakers
Hans Olav Ibrekk
Special Envoy, Climate and Security, Section for Energy, Climate and Environment – Norwegian Ministry of Foreign Affairs
Ibrekk led Norway’s work on climate and security during its’ term in the UN Security Council (2021-22). Ibrekk is a member of the Board of the Green Climate Fund (GCF) (since 2017) and served on the Board of the Adaptation Fund (2007-2017). At the ministry, Ibrekk is the focal point for climate and security, climate change action agenda, geopolitics of the energy transformation, IRENA, renewable energy and water and sanitation.
Margaret Kim
CEO – Gold Standard
Kim is the CEO of Gold Standard, a leading standard that allows climate and development initiatives to quantify, certify and maximize their impact towards climate security and sustainable development. Kim has over 15 years of experience in international management roles including at the Global Green Growth Institute (GGGI) where she held various posts including the Head of Green Climate Fund liaison and Head of Strategy and Integration.
Tom Price
Co-founder & CEO – EcoSafi
Tom Price is co-founder and CEO of EcoSafi, a clean cooking fuel utility business operating in East Africa. EcoSafi designed and uses the BetterStove, the cleanest, most efficient, and best performing biomass stove on the market. They use pellet fuel made from agricultural waste, which costs about half the price of the charcoal it replaces.
Ruth Gichuhi
Senior Manager – EED Advisory
Gichuhi specialises in advancing clean cooking solutions in Sub-Saharan Africa. Gichuhi led the coordination of Kenya’s Cooking Sector Strategy, aimed at achieving universal access to clean cooking solutions by 2028, and is part of the team developing Zambia’s National Clean Cooking Strategy for biofuels. Gichuhi is also overseeing the implementation of energy surveys and affordability studies in Namibia for the World Bank.
Ash Sharma
Vice President of Special Funds – Nefco
Sharma is a climate, environmental finance, policy and investment specialist with over 30 years of experience in over 60 countries, with a current focus on Africa. Sharma has served on various international climate change steering and working groups for Nordic Council of Ministers, UNEP, World Bank, G8 and G20 and has been an adviser to the European Commission, Innovate UK and the Climate Policy Initiative.
Background information
The Modern Cooking Facility (MCFA), managed by Nefco and funded by Sweden, Norway and the European Union, supports the creation of new markets for modern clean cooking solutions and implementation of national clean cooking strategies in Sub-Saharan Africa.