Our Services

We offer services to investors and policy-makers arising from our unique investments, market positioning and the ever-growing experience of our own investments across our core market segments. 




We specialize in tailor-making for our client’s climate change mitigation projects in the developing countries that transform the lives of the poor through diverse social, environmental and health benefits at the local level. These unique projects bear the Transformation Carbon brand distinguishing them from pure carbon credit programs where the cost of carbon is the primary consideration of the carbon buyer, public or private.

To offer the Transformation Carbon brand, CQC has systematically developed and is testing business concepts and market frameworks for the quantification, verification and monetization of co-benefits of development projects aimed primarily to serve a carbon emissions reduction obligation of the buyer or investor.

Hence the partnership between the Gold Standard and CQC in developing the health outcomes methodology with the verifiable performance metric os numbers of Averted Disability Adjusted Life Years (ADALYs), and ongoing work with The Gold Standard and the Verified carbon Standard’s Climate Community and Biodiversity Association standard on Gender benefits verification and quantification.

CQC’s Transformation Carbon program offers opportunities to invest in projects that dramatically improve the lives of families in poor communities around the world through the use of innovative financial structures and new co-benefit market creation to mobilize new and additional resources for cleaner energy systems and more sustainable livelihoods.


Examples of attributes we can create and verify alongside carbon emissions reductions projects under the Transformation Carbon brand include:

  • Quantification of time saved from drudgery by women and girls collecting firewood.
  • Verification of the use of saved time in preferred activities by women and children, such as schooling, attending health clinics, and developing small-enterprises.
  • Improved health outcomes of families measured as Averted Disability Adjusted Life Years (ADALYs) and lives saved. 
  • Restoration forestry and small-scale woodlots and tree planting to restore biodiverse, culturally significant forest reserves alongside our clean cooking interventions.

The Transformation Carbon Program uses any or all of the four main CQC operational platforms, all of which have economic, social and developmental benefits for individuals, communities, investors, partners, and the environment.



We draw on our long experience in carbon finance and carbon asset management before and during C-Quest’s own investments to provide the following carbon asset management services. It has developed and registered 10 CDM Programs of Activities (PoAs) across efficient cookstoves, efficient lighting and renewable energy investments and has ten standard CDM projects still operational.

We offer any or all of the following services:

  • Development and Preparation of Project Design Documents (PDDs) CQC has prepared the PDDs in-house for all its large scale PoAs and its other CDM projects.
  • Project Design Document Revisions CQC has frequently upgraded its PDDs for regular CDM projects and PoAs with Post Registration Changes that modify protocols for monitoring and verification to ensure easier, more cost-effective carbon asset management.
  • PoA Management CQC provides PoA management service and acts as the Coordinating and Managing Entity (CME) for 9 of the PoAs it has developed. CERS issued by CQC’s PoAs comprise more than the sum of all CERs issued by all other PoAs in the CDM to date.
  • Periodic Monitoring and Verification CQC prepares the monitoring reports for its projects in-house and provides high-quality technical reports on all aspects of project performance required to secure annual or periodic verification and issuance.
  • Registry Services and Contract Settlement CQC manages and settles contracts for its buyers and investors who need settlement in carbon credits, cash, or both, managing registry accounts and distribution credits and funds for a variety of clients.

We have capacity to develop carbon projects in each of the main carbon standards - the Clean Development Mechanism (CDM), the Gold Standard (GS) and the Verified Carbon Standard from inception to settlement and distribution of assets. 



CQC leverages its experience as a project developer and manager in putting its capital to work  through innovative financial structures to provide boutique advisory services for select clients.


Unlike other service providers, CQC and Transformation Advisory partners have gained experience and insights from actually putting capital to work and taking business risk in the developing countries, financing, managing and evaluating their own projects. The learning that this has generated under the pressure of performance is unique and powerful in understanding the opportunity for transforming the livelihoods of the poor.

Transformation Advisory offers policy-makers, foundations, analysts, corporations and project developers insights and experience from leading edge practitioners in household energy supply and use, sustainable land use, renewable energy, and development of new markets for women’s and children’s health and well-being.

Examples of Transformation Advisory Assignments since inception in 2014:

  • Willingness-to-pay and social acceptance analysis of clean cookstoves and sustainable firewood in Lilongwe, Malawi, funded by the Global Alliance for Clean Cookstoves.
  • Design and structuring of a feasibility study for a multi-country one million superclean cookstove program to be financed by forward sale of Averted Disability Adjusted Life Years under a results-based financing payment mechanism).
  • Environmental and Social Impact Assessment of Efficient Cookstoves in rural Zambia with Community Markets for Conservation, Zambia, for determining productivity improvements for women and increased opportunities for girl children’s schooling.
  • Efficient cookstove consumer acceptance and willingness-to-pay assessments in Uganda. 
  • Sustainability profiling at the enterprise level, and clean cookstoves procurement and carbon asset development for an Indian corporate client.
  • Business Concept design for the Private Sector Facility of the Green Climate Fund and design and operation of its various Governance elements.
  • Design for a major investment bank of a feasibility study for a one million super clean stove program financed by forward sale of ADALYs.
  • Design of an efficient cookstoves Protocol forward crediting protocol for a US-based carbon registry.


Our founder and several of our current staff were part of the Carbon Finance team in the World Bank that pioneered the developing country trade in carbon emissions reductions in the 1990’s. Carbon finance was the first large scale example of a development finance program based on payment on delivery, or results based financing. We are now developing new forward markets for development impacts building on the core elements of carbon finance. These include improved health outcomes (as ADALYs) and a range of other quantifiable social and environmental attributes at the households and community level.
We design and manage results-based financing initiatives to accelerate market penetration of best-in-class energy technologies to improve clean energy access for the poor in the developing countries. In collaboration with the World Bank, we helped design stove market transformation programs and incentive structures in Haiti and Uganda.

The Cambodia Stove Auction

Recently, the Dutch NGO, SNV Netherlands Development Organisation and our Cambodian subsidiary, C-Quest Capital Cambodia Co. Ltd., signed an agreement for the administration of The Stove Auction trading platform in Cambodia. The concept is a first of its kind in the clean cookstove sector and is an extremely innovative way to accelerate market penetration for the cleanest burning most efficient biomass stoves using results based financing. The business model is highly replicable and scalable in other developing country markets stuck in a rut of unhealthy, environmentally destructive cooking practices.
The Stove Auction focuses on facilitating the vital connection between international suppliers of high performance stoves, and local distributors and retailers through the establishment of a trading platform. The trading platform aggregates a number of distributors and retailers to buy stoves, replacing the initial need and costs for stove suppliers to make these relationships with local partners themselves, thereby reducing their market entry risk. Suppliers of stoves consign them to The Stove Auction at their own cost (including shipping and import). The Stove Auction is then able to provide a guarantee price to them for their stoves sold at auction.  The difference between the guarantee price and the auction price, if less, is covered by a results based financing scheme funded by the Energising Development (EnDev) Programme.
The Stove Auction stimulates interest from local distributors and retailers by giving them opportunity to bid on small volumes of stoves at competitive prices in an auction format, and providing them a results based cash incentive for each stove they sell to a consumer that can be verified. Without such a scheme, the majority of local distributors and retailers would not be able to afford purchasing directly from international stove producers due to their lack of working capital as well as perceived high risk to invest large sums of money when the market for advanced biomass cookstoves is still quite new and uncertain to them.
For The Stove Auction, the market hypothesis is that local demand for these new products will increase over time leading to increased willingness of local distributors to pay higher prices at the auctions. Less and less results based financing incentives will be then be required to eventually reach a situation where the market is operating at full commercial prices.
For further information on The Stove Auction, please visit www.thestoveauction.org.