Carbon Micro Credits for the Developing World

Families in Kenya now have a convincing reason to lower their carbon footprints: cash.

Yes, two of the trendiest ethonomic concepts of the last 10 years--carbon credits and microfinance--have finally merged. Carbon Manna Unlimited announced yesterday a cell phone-based Carbon Micro Credit system in the country that will allow residents to claim carbon offsets produced by using efficient cooking methods. Instead of using open-pit fires to burn biomass, families are encouraged to experiment with solar cookers and charcoal stoves.

Here's how the program works: Pre-selling bundled Carbon Micro Credits provides capital for cell phones and efficient stoves. The offsets are crowd-sourced by participating families via text messages, and regular audits will attempt to check that families have, indeed, switched to the lower-carbon cooking methods, ensuring the validity of the carbon offsets. 

Each family can claim 3 tons of CO2 offsets each year--worth about $20 to 25. Combined with potential fuel savings of $70 to $150 each year, residents--many of whom live on less than $1 each day--have a strong incentive to participate.

Carbon Micro Credits will become available to residents of East African, West African, and South African countries later this year and in 2010.

[Via MarketWire]