Press Release

The Paradigm Project, a low-profit, limited liability company (L3C) whose mission is to create sustainable economic, social and environmental value within developing world communities, today announced the delivery of the first part of a transaction involving 125,000 tons of carbon offsets from its Kenya cook stove project to Climate Neutral Group. The Paradigm Project’s cook stove project has already implemented 45,000 efficient cook stoves with plans for expansion throughout East Africa and parts of Latin America, and a target goal of implementing 5 million stoves by the year 2020.

“This is one of the premier Gold Standard projects on the market today,” stated Franz Rentel, Carbon Project Manager for Climate Neutral Group. “The Paradigm Project has a unique business model, including its commitment to financial sustainability and social impact in the communities in which it works, and we’ll be looking to purchase more carbon offsets from Paradigm in the future.”

The stoves generating this first delivery of offsets have already positively impacted the lives of 210,350 people in Kenya, as well as saving: more than 4.6 million hours in time spent collecting wood; $110,587 in local income; and 127,537 trees from deforestation. During the 10-year life of the project, The Paradigm Project expects to sell 400,000 cook stoves, positively impacting the lives of more than 2 million people and reducing more than 1.5 million tons of carbon dioxide.

Earlier this year, The Paradigm Project announced successful certification by The Gold Standard, an award-winning certification scheme for carbon credits in both the compliance and voluntary carbon markets. This issuance represents the first ever Gold Standard Voluntary Emissions Reduction (VER) delivery from Kenya. Additionally, it was selected by United Nations’ Momentum for Change Initiative as one of ten Lighthouse Projects, adaptation or mitigation initiatives that have visibly improved the quality of life for people, and which have the potential to be scaled-up. Momentum for Change is the first platform created in partnership between UNFCCC and the Bill & Melinda Gates Foundation, which focuses on successful and effective private-public partnerships, especially those that benefit the urban poor in developing countries. The Paradigm Project was the only cook stove project to be included.

“Our recent certification by The Gold Standard, selection as a Lighthouse Project by the UN Momentum for Change, and this transaction with Climate Neutral Group validate the high social and environmental quality of our Kenya cook stove project,” explains Neil Bellefeuille, CEO and co-founder of The Paradigm Project. “We are excited about the relationship with Climate Neutral Group and the high demand for our project offsets as we move into other East African countries to begin new cook stove projects this year.”

The 125,000 tons of carbon reductions created between 2010-2012 from the Kenya cook stove project were sold to Climate Neutral Group at a fixed, undisclosed price. Full delivery will likely occur by the end of 2012 or early 2013. In addition, World Vision International, a Christian humanitarian organization dedicated to working with children, families, and their communities worldwide reach their full potential by tackling the causes of poverty and injustice, has also agreed to purchase a volume of 2010 vintage reductions for internal purposes.

About The Paradigm Project - www.theparadigmproject.org

The Paradigm Project is a low profit limited liability company (L3C), which is a for-profit company with a stated social purpose as its primary reason for being. Put simply, it has the heart and mission of a non-profit, with the flexibility and access to capital of a for-profit business. The primary purpose of The Paradigm Project is to leverage the international carbon markets to generate real triple bottom line returns for investors, donors and the communities it serves.

The Paradigm Project was founded by Neil Bellefeuille and Greg Spencer, who have a combined total of nearly 40 years of experience in marketing, law and capital markets for major corporations and Fortune 500 companies.

Climate Neutral Group - www.climateneutralgroup.com

Climate Neutral Group (CNG) is a Dutch company with a passion for climate issues.

Their ambition is to assist as many companies as possible to make the transition to climate-neutral business operations. Accompanying organisations towards defining their own ambition on climate-neutral business operations, Climate Neutral Group offers a wide portfolio of services to choose from. Organisations can also choose a complete solution, consisting of four phases. These phases are: defining the ambition, consciousness raising, implementing reduction measures and reaching climate neutrality. In each phase a number of services are offered, fitting the phase & ambition, leading organisations towards climate-neutral business operations.

Last updated on: 22/02/2012 08:00:03