Keeling Curve

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Project Summary / Description:

The Vita Green Impact Fund project was created in 2017 and will run until 2027

It is ‚Ç¨2 million pilot project based on a circular financing model which leverages new financial streams into the development sector for climate impact. The project currently supports 311,000 people.

It is an investment platform that enabled impact investors to provide basic services (improved cookstoves and access to clean drinking water) to poor rural households in Ethiopia and Eritrea. 

The blended finance was structured as a ‚Ç¨0.5m grant and ‚Ç¨1.5m low interest loans to Vita repaid over 5 years from the sale of voluntary carbon credits generated from cookstoves and clean water projects.

It is managed in a manner to reduce all commercial leakage to private sector. Vita undertook all stages, i.e. writing prospectus, loan notes, securing the finance, completing the projects on the ground, doing the carbon accreditation, selling the credits and repaying investors.

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How Project Affects Greenhouse Gas (GHG) Emissions:

Replaces/avoids GHGs (e.g., projects that replace sources of GHGs, such as the burning of fossil fuels for electricity, heat, transport, or other energy uses), Reduces GHGs (e.g., projects that reduce sources of GHGs, such as through efficiency or other changes in consumption)

Best Estimate of GHG Avoidance/Reduction of This Project (Tonnes CO2 Equivalent/Year):

Impact on Underrepresented Groups:

The project empowers poor rural households and communities in Africa as it is based on trade not aid. Households in Africa produce a commodity (carbon credits) which have value in the west. In exchange for potential future value of credits, they receive goods and services in the form of cookstoves and access to clean water through a transparent and mutually agreed process. 

Apart from the Dublin team, all of Vita‚ 80 staff are Ethiopian or Eritrean nationals which is where all project activity takes place. Vita operates a highly devolved management system whereby our country directors have considerable autonomy and decision-making powers. 

Our work in Africa impacts disproportionately on women and girls as they bear the burden of gathering firewood for cooking or for boiling water to make it safe to drink. From our baseline study this means up to six hours‚ time is freed up weekly for women in the home and girls‚ school attendance improves. 

We strive to empower vulnerable communities. For example, in water point repairs they become active participants in the project. This starts at initial meetings where the project is explained, including what the project will provide and what the community wants to provide. The community sets up their own Water and Sanitation Committees which are typically over 50% are women. For the cookstove work, it is local women‚ groups that make the cookstoves and provide training as to how these are best used. The project provides these groups with logistical supports.

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Mission Statement:

Vita is an Irish based INGO operating in Ethiopia and Eritrea. Our vision, based on climate justice, is for climate-smart communities with access to essential services for all. Our approach is to design, test and promote innovative, financial mechanisms used to provide essential services to poor rural communities in Africa that can be replicated at scale. This approach combines partnership and collaboration with leading global and local expertise, community-led initiatives and transformational technology. 

Since 2012, Vita has been engaged in carbon finance and community-led approaches to technology adoption to deliver sustainable access to safe water and clean cooking technology.

While the achievements of the project to date are very significant, we consider these to be the piloting and proof of concept of an innovative model, both in terms of financing and service delivery, which can now be replicated and scaled up for greater achievement.