Carbon Offsets Daily

Daily carbon offset news, insight, community.

JPMorgan Chase Subsidizes Stoves in Africa to Earn Carbon Credits

It’s a known fact that investments in renewables such as wind, solar, hydro power or reforestation projects are widely used forms of carbon offsets. But who knew that investing in cook-stoves could earn carbon credits? JPMorgan Chase did.

The investment bank is currently involved in a project that subsidizes energy-efficient stoves in Uganda. Not only do the stoves work with lower amounts of fuel, bring about a reduction in the pollutants that have an adverse effect on the lungs, but also each stove reduces carbon emissions by 2 or 3 tons per year as compared to regular ones. The idea to use these stoves for earning carbon credits was developed by the offset provider – Climate Care, that was purchased by JPMorgan last year.

The venture is expected to rake in huge amounts of revenues and JPMorgan has plans of expanding the cook-stove project to cover Kenya, Ghana, Cambodia along with other regions. The credits earned by the bank are being sold to retailers such as Land Rover UK and Aviva Insurance.

Tags: , , , ,

6 Responses to “JPMorgan Chase Subsidizes Stoves in Africa to Earn Carbon Credits”

  1. Allen Taylor
    on Aug 12th, 2008
    @ 9:00 am

    Nice writing. You are on my RSS reader now so I can read more from you down the road.

    Allen Taylor

  2. admin
    on Aug 12th, 2008
    @ 9:27 am

    Thanks Allen for the compliments. Please let us know if there is anything specific you’d like us to cover.

  3. INTERVIEW: GreenLife on the Future of Carbon Offsets — Carbon Offsets Daily
    on Aug 22nd, 2008
    @ 7:21 am

    […] The interview is based on a story that we recently ran about JPMorgan “Cooking up Carbon Credits” (that you can view here: JPMorgan Chase Subsidizes Stoves in Africa to Earn Carbon Credits). […]

  4. INTERVIEW: ClimateCHECK on the Future of Carbon Credits — Carbon Offsets Daily
    on Sep 2nd, 2008
    @ 10:18 am

    […] The following interview is based on a story that we recently ran about JPMorgan

  5. TradingChief
    on Jan 12th, 2010
    @ 7:02 pm

    The stoves are estimated to reduce emissions by two to three tons a year; each ton gives a carbon credit of $10 or $15 a year for JPM

    The stoves cost about $10 a piece and for an expense of $100million if JPMorgan can distribute 10 million stoves. That will generate up to $450 million “a year”! for JPM Morgan for LIFE!!. They are in this for the money. The Sub-prime scam is done, any semi functional scam running, died with the financial collapse. The next scam on the world is “Carbon credits”. A Carbon Credit created is an offset for resent/future pollution. DUKE Energy will produce power from coal. They will be crucified for that (good for planet) DUKE will then pass the cost on crucifying the consumer (Joe )
    Every square inch of planet earth is being bought on the cheap to then sell to business, over and over and over again. The only person that pays, its the guy that just is barely holding onto his home.
    Carbon Credits will go down in history as the biggest tax and bankers scam
    of this decade.
    Their is no regualtion, any one can lock in land by doing a deal with the owner and lock in his credit for years. The seller will think he will be getting a good deal. But once the Credits start trading, these guys with their floors of traders and fast tradung systems will lauch the credit value to the stratosphere.
    Environmentalists never thought this one out, If they did, they blew it.
    This will cost everyone except the polluters and we will all be subject to the “Market Trading Appreciation” of the Credit. A forest burns down, then the credit is sough elsewhere, whats your offer? get in the lineup.

  6. JPMorgan Runs American Families Out of their Homes w/ Foreclosure, but Buys Cook Stoves for Africa – ChaseHomeFinanceSux-DBA-ChaseManhattanMortgageCorpSux
    on Sep 25th, 2010
    @ 7:01 am

    […] Exchange fraud stoves for Africa The following article and reply is brought to you by – JPMorgan Chase Subsidizes Stoves in Africa to Earn Carbon Credits Its a known fact that […]

Leave a Reply

© 2009 Carbon Offsets Daily. All Rights Reserved.

This blog is powered by Wordpress.