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UN Approves First Carbon Credit to Myanmar Woodstove Project
The Myanmar cookstove project cuts emissions by about 40% compared to previous schemes and supports climate targets for South Korea and Myanmar, the UN said.
- On Feb 26, the United Nations climate agency approved the first carbon credits under the Paris Agreement market for a Myanmar cookstove project with a South Korean company, with credited reductions 40 percent lower than before.
- Under the UN‑run carbon market, companies and countries can offset emissions by financing projects abroad, as designed under the Paris framework.
- UN climate chief Simon Stiell said `Clean cooking protects health, saves forests, cuts emissions and helps empower women and girls,` highlighting health and environmental benefits.
- Critics cautioned that poorly designed schemes can enable greenwashing, while Jacqui Ruesga, vice chair of the UN body supervising PACM, said the first issuance shows the system is working as intended.
- With COP29 in Azerbaijan , rules were established, and supporters argue the mechanism can channel finance to projects that deliver real-life benefits while safeguards ensure integrity.
Insights by Ground AI
8 Articles
8 Articles
South Korea will pay for a clean cooking program in Burma and receive carbon credits that will help it reduce its climate footprint. However, carbon credits are heavily criticized for their lack of efficiency.
·Paris, France
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A South Korean company will finance, for example, a programme in Burma to replace open cooking fireplaces – wood, charcoal, etc. – by more efficient homes.
·Paris, France
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Coverage Details
Total News Sources8
Leaning Left4Leaning Right1Center2Last UpdatedBias Distribution57% Left
Bias Distribution
- 57% of the sources lean Left
57% Left
L 57%
C 29%
14%
Factuality
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