UpEnergy announces Tanzania's first Article 6 authorisation for carbon credits from cleaner cookstoves
KAMPALA, Uganda, April 9, 2024 /PRNewswire-PRWeb/ -- UpEnergy, a social enterprise with a mission to channel climate finance to fight energy poverty through decarbonisation projects, today announced it has secured a historic letter of authorisation (LOA) from the Government of Tanzania. The new LOA represents the country's first-ever carbon credits authorised for corresponding adjustments under Article 6 of the Paris Agreement.
- The new LOA represents the country's first-ever carbon credits authorised for corresponding adjustments under Article 6 of the Paris Agreement .
- The announcement also marks the first Korean-based company to acquire Article 6-authorised credits from Tanzania, with Ecoeye purchasing the first issuance of these credits.
- The authorisation for corresponding adjustments based on the first transfer will significantly contribute to the development of the Article 6 pathway within Tanzania.
- The ongoing work is part of the Community Carbon initiative launched by UpEnergy, which supports communities by reinvesting project revenue back into project areas centered on cleaner cooking and safe drinking water.