SCB Innovative Financing to Provide 100,000 clean cookstoves for Rohingya Refugees in Bangladesh

SCB, the world-leading low carbon commodity company, announces investment in a programme as the sole provider of 100,000 clean cookstoves for Rohingya refugees and host communities in Bangladesh. SCB is working in partnership with the Bangladesh Bondhu Foundation (BONDHU) supported by the Government of Bangladesh; and VNV Advisory to commence the distribution of improved smokeless cookstoves in April 2022 and complete it by February 2023.

The energy-efficient, improved smokeless cookstoves known as ‘Chula’ are essential to cook food rations and boil drinking water, and are a massive improvement on the current reliance on traditional stoves or open wood fires, which damage respiratory health exacerbated by the confined space of the dwellings made of tarpaulin. The improved smokeless cookstoves burn wood more efficiently, causing less environmental impact from the extensive wood harvesting for cooking fuel in the forest area surrounding the camps. Wood collection is also linked to gender-based violence. In addition to the health, social and economic benefits to the Rohingya people, the programme empowers local ownership of the sustainable production, marketing, installation and use of cleaner stoves.

SCB’s innovative financing investment is grounded on the fact that efficient wood burning significantly reduces carbon emissions.

This project will undergo Gold Standard registration which will lead to at least 1 million metric tonnes of CO2 abatement over a five-year period, generating at least 200,000 carbon credits per annum.

Commenting, Kevin McGeeney, CEO of SCB, said:

“We are proud to be making a substantial difference to the lives of the Rohingya refugees living in camps and host communities in Bangladesh. Something as simple as improving the stoves at their disposal can materially help improve living conditions, and reduce certain health issues, whilst also minimising the impact on Bangladesh’s vulnerable ecosystem. With the generation of carbon credits, upon project certification, this is a win win programme and another example of SCB developing markets as a route to decarbonisation.”

Global food insecurity and migration linked to drought-caused by climate change and geo-political instability is set to rise. Governments have called upon the private sector to come up with innovative financing mechanisms such as SCB’s clean cookstove programme to alleviate hunger and environmental degradation in order to achieve the 2030 Agenda’s Sustainable Development Goals and meet the terms of the Paris Agreement on Climate Change.