Clean cooking is not just about
preparing meals; it's a catalyst for positive change, impacting health,
environment, and socioeconomic development worldwide. Affordability is a key
factor responsible for the slow adoption of clean cooking solutions (both for
CAPEX and OPEX), and stakeholders must focus on reducing both initial and
recurring costs. Carbon financing can play a significant role in promoting and adopting
clean cooking solutions due to its health, environmental, and social benefits.
The recent surge in carbon prices also makes carbon financing an attractive
source of financing for cookstove projects. However, stakeholders must work
together to build capacity in accessing and managing carbon finance in the
country and create a level playing field for all.

With the same intension, the Carbon Market Association of
India (CMAI) hosted the exclusive Carbon Policy Development Conclave on May 16th,
2024, at Le Meridien in New Delhi. The event brought together a diverse array
of stakeholders, including policymakers, ministerial representatives, industrial
leaders, and preeminent think tanks, with the objective of driving sustainable
policy action and advancing critical climate goals. With a keen focus on
reducing emissions, the dialogue delved into pivotal topics such as Sustainable
Finance and its associated Economic opportunities, International Cooperation
and Collaboration, Bioenergy, Clean Technologies, and Alternative Fuels. Furthermore,
the event witnessed the launch of key initiatives such as Voluntary Carbon
Market Integrity Report, CMAI’s Centre of Excellence for Accelerating Net-Zero
Transition, and the India Clean Cooking Alliance.

India Clean Cooking Alliance has set forth an
ambitious mission to ensure universal access to clean cooking technologies for
every household in India. Mr Vimal Kumar Co-founder Finovista is made the
chairperson of the India Clean Cooking Alliance. Mr. Kumar provided insightful
perspective on various aspect of clean cooking, including the affordability of
clean cooking solutions and how the recent surge in carbon market can be an
attractive source of financing for cookstove projects. He further emphasized that
clean cooking not only contributes to reducing carbon emission and mitigating
climate impacts but also empowers women by fostering economic independence and
entrepreneurship. Additionally, Mr. Kumar underscored the pivotal role of the
India Clean Cooking Alliance as a catalyst for transformative change, rallying
governments, businesses, and civil society to prioritize clean cooking on the
global agenda.