C-Quest over-issued millions of tons worth of carbon credits. Sensors and monitoring would have prevented this while also resulting in more profitable past and future projects.
I was really happy to see that Jules Kortenhorst and C-Quest Capital are finally coming clean, trying to lead with integrity, and admitting that millions of tons worth of carbon credits were over-credited and fraudulent. It takes bravery and humility to look this kind of situation in the face and build back. But it didn't have to be this way! Sensors and monitoring would have prevented this mess. In the morass of the cookstove carbon markets, there is finger-pointing, blame, accusations of malfeasance, and plenty of pain to go around. Instead of deciphering organizations’ intentions and murky carbon calculations, we could be monitoring projects using real data: measurable stove use and fuel savings metrics collected by a statistically significant sample of sensors. For decades, it seemed like the problem of 3 billion people cooking on inefficient stoves was intractable. But along came carbon finance, large amounts of capital were invested, and the sector started making real positive progress. However, the money was probably too easy, and the methodologies surely too lenient. Folks got sloppy, greedy, or both. But climate change isn’t going away, and neither is the global cooking crisis. Clean cookstoves are still an incredibly impactful and affordable way to abate carbon dioxide. Today we have a positive opportunity to build a strong market filled with affordable, life-changing, and trustworthy carbon credits. Sensors can measure what people really do, which stoves they use, and if emissions are really avoided. Geocene’s goal is to create incentives for hundreds of millions of great stoves. Projects should only get paid when they prove with objective data that people truly love to use their stoves. Sensors filter out all the murkiness and show us what’s really happening. Armed with great data, manufacturers and project developers will want to build and deploy the best products possible. Customers deserve affordable stoves financed by carbon credits. It is the responsibility of high-integrity manufacturers, project developers, and companies like Geocene to earn back investors’ trust with data-backed credits that reflect the real impacts of great stoves.