Washington DC-based C-Quest Capital LLC (“C-Quest Capital”) today launched “The Transformation Carbon Project” to re-focus its core business on achieving the underlying development impacts of its carbon emission reductions projects in the poorest countries and communities in Africa, Asia and Central America.
“The Transformation Carbon Project is about carbon-powered community development,” said Ken Newcombe, CEO of C-Quest Capital. C-Quest Capital’s carbon projects transform the lives of poor families and communities using revenues from the sale of carbon emission reductions to provide them low cost access to clean and efficient energy appliances. He further explained “the opportunity to use carbon finance to support projects that increase health and well-being for the poor in developing countries has been overlooked. The fact is that even at today’s low prices, carbon revenues can contribute significantly to transformative projects for the world’s poorest people.”
The Transformation Carbon Project provides opportunities for social impact investors, companies concerned about social responsibility and branding, and high net worth individuals to leverage their contributions to women’s and children’s health many times over by providing low cost financing alongside other investors whose returns come from monetizing the resulting carbon credits. “Combining social impact investing with carbon finance can yield powerful synergies for addressing poverty and climate change,” said Newcombe. These projects also provide opportunities for results based development finance, whereby development and social impact investors pay for verifiable health and welfare outcomes alongside verified [and/or certified] carbon emission reductions.
C-Quest Capital has built a large portfolio of health and welfare transformative projects across Sub-Saharan Africa, Asia and Central America, focused mainly on clean efficient cookstoves. “A ten million dollar grant to African Cookstoves projects can leverage $40 million in private capital,” stated Newcombe.
C-Quest Capital has or is developing 10 CDM Programs of Activity (PoAs) in ten countries to deliver modern clean energy services to millions of households.