Major Milestone Achieved for Secure Ethical Investment in East Africa

TAUNTON, England, July 19, 2011 -

UK based carbon management company co2balance has secured the
crucial Letter of Approval (LOA) from the Kenyan government’s
environmental department, endorsing its highly acclaimed energy
efficient stoves project.  The LOA is the last step prior to
official registration of the CDM (Clean Development Mechanism)
project with the United Nations under their Framework Convention on
Climate Change or UNFCCC. This follows a stringent scientific
assessment of the projects which prove that the methodologies
employed to deliver carbon savings together with social, health and
welfare benefits for some of the poorest communities in Africa,
work in practice on the ground and not just as a theoretical good
idea.  This is the first stove based CDM project ever to
receive this level of approval and  recognition from the
Kenyan Government and follows  several years of painstaking
 research and development from co2balance working on the
ground in Sub Saharan Africa.

The project will now move forward to full registration and begin
implementation in the autumn with the stoves being installed in
many areas across the country. During the project installation
phase at least 300,000 of the poorest families will receive the
energy efficient stoves free of charge, reducing their household
fuel burden by 50% saving time and money whilst protecting
endangered forestry regions from over exploitation.  In
addition to the reduction in fuel the families experience an added
health benefit as the stoves reduce the indoor smoke pollution by
over 70%. As pneumonia kills more people in Kenya than Malaria this
is a massive contribution to the health of the community, for many
years to come.

The project will be financed initially by global investors who
are being sought now , with the return coming from carbon funding
raised in developed countries from business or individuals who
offset unavoidable carbon emissions from their activities.
 This project alone has the potential to reduce global carbon
emissions by 18.9 Million tonnes over the life of the project from
the reduction in wood fuel consumed.

Mark Simpson founder and Managing Director of co2balance said in
a statement “The delivery of the LOA adds considerably to investor
confidence. We knew what we were attempting was problematic given
the challenges of working in some of the least developed and
poorest parts of the world.  However this endorsement from the
Kenyan Government is a great achievement for our teams of
professionals who have set the standard now for others to
follow”.

co2balance expect to be able to announce further CDM project
milestones in the coming months and expect the success of these
projects to mirror their already enviable position as a leader in
the development and implementation of  premium voluntary Gold
Standard carbon reduction projects across Africa.

About co2balance UK Ltd

Established in 2003, co2balance UK Ltd is a leading, UK based,
carbon management provider offering carbon calculation, management
and reduction services to leading blue chip companies including,
BSkyB, Toshiba Europe, Gaz De France, Fiat and Flybe. As a project
developer co2balance UK Ltd creates African Gold Standard and CDM
projects that focus on social, health and community benefits to the
families within the project area, in addition to carbon
savings.

Further details of investment opportunities, case studies or
videos of the projects are available from the co2balance website href="www.co2balance.com/">www.co2balance.com or
by contacting co2balance directly at href="mailto:enquiries@co2balance.com">enquiries@co2balance.com
, +44(0)845-094-2620; Steve.Hewson@co2balance.com

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