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20 Jun 2024

New TEM cookstove project approved in Papua New Guinea by Verra – the first carbon finance cookstoves project in PNG and under revised Verra methodology 

A pioneering new cookstoves project by leading Asia-Pacific carbon offsetting solutions provider, Tasman Environmental Markets (TEM), has been approved in Papua New Guinea (PNG) by Verra, which will bring carbon finance to improve health and environmental issues in the country. The ‘Papua New Guinea Healthier Homes, Healthier Forests’ project is the first carbon finance cookstoves project in PNG and also the first project to be registered using the revised higher integrity version 1.2 of Verra method VMR0006 Energy Efficiency and Fuel Switch Measures in Thermal Applications, released in July 2023. 

TEM continues to work with the PNG and Singapore Governments to finalise approval of the project under the PNG-Singapore Implementation Agreement.  

TEM will begin the first phase of the project in the Southern Highlands Province in the coming months and will distribute, at no cost, over 100,000 improved cookstoves to local communities and expand across the country where over 80% of all households still rely on indoor open fire cooking. This traditional open fire practice consumes large amounts of firewood and leads to air pollution that represents a major health risk across PNG. By bringing this clean cooking technology, it is estimated to avoid near 3 million tonnes of CO2 over 10 years, along with achieving significant health and environmental benefits. 

“After the success of the pilot project conducted in 2023, launching our Cookstove project at full scale is an exciting milestone for TEM. The cookstoves will provide environmental, health and community benefits to the Southern Highlands Province of PNG by introducing local communities to more efficient and cleaner cooking practices,” said CEO of TEM, Adrian Enright. 

The Verra-approved project will reduce firewood consumption, deforestation and carbon emissions, and bring economic benefits by the creation of local employment and community members saving money via purchasing less wood. It will also improve the health of the communities by cooking with less toxic smokes and reduce the time spent gathering firewood, which can be allocated to education and other opportunities.  

Adrian adds: “Operating under the new methodology will improve accuracy of our calculations and bolster the integrity of our credits, as well as delivering on multiple Sustainable Development Goals to the local comunities. We will also continue to work with the PNG Government to seek approval of the project under Article 6 of the Paris Agreement, and with the PNG and Singapore Governments to finalise approval of the project under the PNG-Singapore Implementation Agreement.” 

TEM is also partnering with the Western Pacific University, based in the Southern Highlands Province of PNG, to assist in the implementation of TEM’s project and the development of environmental and sustainability activities, including potential educational resources and employment opportunities for local university students. 

About TEM  

TEM is a leading Asia-Pacific carbon offsetting solutions provider, across voluntary and compliance markets, including being the largest provider of voluntary Australian carbon credits. TEM partners with businesses of all sizes to help them achieve their decarbonisation goals and make a real difference to climate change, people and the planet via financing high-quality carbon offsetting projects. TEM supports business goals through a range of end-to-end carbon offsetting solutions, including corporate offset portfolios, digital sales and calculations, carbon project development and investment options, and its trading desk. Since 2014, TEM has helped finance more than 300 carbon projects in 30 countries, reducing over 11 million tonnes of carbon emissions, as well as providing community and biodiversity benefits. TEM is trusted by many leading, iconic global brands and located in offices around Australia and the Asia-Pacific region.  

Media enquiries  

Clara Devlin   

PR and Content Marketing Manager, TEM  

0451 511 196 

Note: “Tasman Environmental Markets (TEM) is Australia’s largest voluntary carbon offset provider” is based on published data from the Clean Energy Regulator on voluntary cancellations of Australian Carbon Credit Units.    

Important information  

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.