Aera signs its first ever contract in Mongolia16 November 2021
The deal covers the purchase of 150,000 carbon credits generated by an improved heating households program. Heaters are distributed with the support of microfinance.
The project involves the installation and maintenance of clean energy products including efficient stoves and home insulation in Mongolia. The current practice in Mongolia is to use inefficient stoves and home insulation at the household level, resulting in necessary combustion of large amounts of coal. The use of these fuels generates a variety of gases including Carbon dioxide. The replacement of these traditional products with Clean Energy Products reduces the amount of fuel required for heating, and reducing the amount of GHG emitted into the atmosphere.
The project owner is a social enterprise that helps low income microentrepreneurs and households in developing countries to invest in clean energy through their local microfinance institutions. Under this small-scale Programme of Activities, the project owner developed projects with a microfinance institution and clean product suppliers to market, distribute, and finance clean energy products to low income micro entrepreneurs and households.