Global Water Center started a Carbon Credit Program to make rural water systems financially sustainable. This innovative program helps safe water organizations and rural communities acquire additional financial support to establish, maintain, and operate rural water systems.
“It is challenging and unrealistic to rely on traditional sources of capital (e.g. philanthropy, donations, and grants) to truly scale safe drinking water projects,” said Eric Wei, president of the Carbon Credit Program. The carbon market provides much more stable, sustainable funding, but few safe water organizations are currently accessing it.
The Carbon Credit Program helps safe drinking water project developers access the carbon market by meeting the data and process requirements mandated by the carbon standards and registries. Additionally, the program works directly with rural communities to ensure they have the necessary resources to upkeep their water systems.
Within the program’s first few months, Global Water Center signed a carbon consulting agreement with Water Mission, a Christian engineering nonprofit that builds safe water, sanitation, and hygiene solutions in developing countries and disaster areas. The Carbon Credit Program is supporting Water Mission in relation to an initial portfolio of 17 safe drinking water projects in Kenya and Malawi serving up to 100,000 people with safe water access. The Carbon Credit Program is also in discussions with project developers, nonprofits, and communities in Ethiopia, Honduras, Nicaragua, and El Salvador.
Global Water Center envisions the Carbon Credit Program growing to finance sustainable safe water systems around the world.
