The pioneering Papua New Guinea (PNG) Improved Cookstoves project by Asia-Pacific carbon offsetting solutions provider, Tasman Environmental Markets (TEM), has become the first project globally to issue Verified Carbon Units (VCUs) under Verra’s VM0050 methodology – a paving the way for scalable, community-centered climate solutions.
The ‘Papua New Guinea Healthier Homes, Healthier Forests’ project has successfully transitioned to Verra’s new project methodology, VM0050 Energy Efficiency and Fuel-Switch Measures in Cookstoves, released in October 2024. This methodology is also eligible under the Integrity Council for the Voluntary Carbon Market (ICVCM) Core Carbon Principles (CCP) label, reinforcing the project’s credibility and market alignment.
This issuance, after a successful verification audit carried out by SustainCERT, is a significant milestone for TEM’s project and cookstove projects globally.
“We’re proud to lead the way with the first-ever project approved under this robust methodology,” said Michaela Morris, CEO of Tasman Environmental Markets. “This development is a testament to TEM’s ability to lead in a fast-evolving carbon market, combining rigorous standards with a focus on tangible benefits for both communities and the environment.”
“Papua New Guinea offers enormous potential for climate solutions that also unlock social and economic benefits. Our improved cookstove project in the Southern Highlands is a powerful example of how carbon finance can reach remote communities and improve their wellbeing,” Morris continued.
“The emissions reductions are just one part of the story. These cookstoves reduce exposure to indoor air pollution, save time otherwise spent collecting firewood, and create meaningful economic opportunities – particularly for women. This is exactly the kind of integrated climate solution the carbon market should support,” Morris added.
The project was developed and implemented directly by TEM’s in-country team, rather than through third-party partners – a point of distinction in a sector where international developers typically outsource local delivery. TEM’s local staff worked closely with community leaders, with the support of the PNG Climate Change and Development Authority (CCDA) and Provincial Government Authorities. This on-the-ground presence has been central to the project’s success and long-term impact. The initiative aligns with Papua New Guinea’s Nationally Determined Contribution (NDC) and its commitment to just and inclusive climate action.
In Papua New Guinea, over 80% of households continue to rely on indoor open-fire cooking – a traditional practice that plays a central role in daily life but can require significant firewood and lead to indoor air pollution. TEM’s project offers improved cookstoves at no cost to the community, supporting a shift to cleaner, safer, and more sustainable cooking alternatives.
By reducing firewood consumption, the project contributes to healthier forests and lower carbon emissions, benefiting both communities and the climate. It is expected to prevent nearly 3 million tonnes of CO₂ over 10 years. TEM plans to scale distribution to 200,000 cookstoves, with the current phase aiming for 50,000 households by 2026.
Media enquiries
Clara Devlin
Marketing and Corporate Affairs Manager, TEM
0451 511 196
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This information has been prepared by Tasman Environmental Markets Australia Pty Ltd (TEM), a corporate authorised representative (ABN 97 659 245 011, CAR 001297708) of TEM Financial Services Pty Limited (ABN 58 142 268 479, AFSL 430036). This material is for general information only and is not intended to provide you with financial advice or take into account your objectives, financial situation, or needs. While we believe that the material is correct, no warranty of accuracy, reliability, or completeness is given, except for liability under statute which can’t be excluded. Before making an investment decision, you should first consider if the information is appropriate for your circumstances and seek professional financial advice. Please note past performance is not a guarantee of future performance.