CO2balance

CO2balance was founded in 2003 by a group of entrepreneurs led by Mark Simpson who recognised the potential of market-based mechanisms such as carbon offsetting to tackle climate change and promote sustainable development in marginalised communities across the developing world.

As the international carbon market developed, the company began exploring the possibility of using carbon finance as a means to fund renewable energy and improved cookstove projects in sub-Saharan Africa. In 2007, CO2balance registered its first fuel efficient cookstove programme under the UN accredited carbon standard, the Clean Development Mechanism and by 2012 had distributed over 50,000 stoves in East Africa. Following on from this, the company continued to develop new projects under the Gold Standard Foundation, a voluntary carbon standard founded by the WWF, which focuses on quantifying the social and economic benefits of projects in addition to the CO2 emission reductions.