Upenergy

UpEnergy Group Cofounders Alex Rau and Matt Evans explain how UpEnergy is using ICE’s carbon markets to drive the energy transition, save lives, and reduce energy poverty. As they explain, the auction carbon credits based on UpEnergy’s Improved Cookstove Program in Uganda is just one of the innovative ways to bring the power of the global capital markets to bear on the challenges faced by climate change. Since its founding in 2011, UpEnergy has built 16 projects that leverage climate finance to fight energy poverty and, as we hear from Matt and Alex, they’re just getting started. Announcer: From the library of the New York Stock Exchange at the corner of Wall and Broad Streets in New York City, you're Inside the ICE House, our podcast from Intercontinental Exchange on markets, leadership, and vision and global business, the dream drivers that have made the NYSE an indispensable institution of global growth for over 225 years. Each week, we feature stories of those who hatch plans, create jobs, and harness the engine of capitalism right here, right now at the NYSE and at ICE's exchanges and clearing houses around the world. And now welcome Inside the ICE House. Pete Asch: This is your host, Pete Asch. This episode will be coming out a couple of days after Earth Day 2023, which this year has the theme Invest in Our Planet to persuade businesses, governments, and citizens around the world of the need to put capital behind improving our environment and give our descendants a b...

Kampala, Uganda — 17 May 2022 — Today Community Carbon announced seven energy-saving projects across eastern and southern Africa that will not only avoid carbon emissions, but also combat energy poverty by improving community outcomes and preserving local environments. The initiative, which will roll out over the course of the next two years, will commence with the delivery of 3.5 million fuel-efficient, cleaner cookstoves and water purification devices to communities across five countries. The projects are made possible with a $20 million stream investment from Carbon Streaming Corporation. Community Carbon taps into carbon markets and the global community’s drive to reduce emissions as a means to combat energy poverty. The newly announced initiative expects to deliver 50 million tonnes of CO 2 equivalent emissions reductions over the next 15 years, while saving households $150–$200 in annual fuel expenditures. Further, Community Carbon’s approach aims to stimulate additional social and economic benefits through efforts such as: • Reinvesting a portion of project revenue back into the communities toward additional activities that help build long-term climate and community resilience — the first Community Carbon impact fund will focus on the education and empowerment of women and girls, who are often disproportionately impacted by climate change. • Local manufacturing and local materials sourcing that creates direct and indirect jobs in the regions where the cookstoves and...

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