BURN and Key Carbon Joint Venture Receives First CCP-Labelled Credit Issuance

Nairobi, Kenya – 25th November 2025 — Global Cookstoves, the project development joint venture operated by BURN and Key Carbon, has received its first issuance of Core Carbon Principles (CCP)-labelled clean cooking carbon credits under the Integrity Council for the Voluntary Carbon Market (ICVCM) framework from Gold Standard. In an endorsement of the market’s demand for new standards of integrity, the entire issuance was presold through the climate action platform Patch.

Gold Standard confirmed the issuance of 82,000 CCP-approved credits from a Kenyan Global Cookstoves project, which is jointly owned by BURN and Key Carbon, and is part of a broader plan to issue more credits from other Global Cookstove and BURN projects by the end of the year.

The CCPs represent the highest international standard for integrity in carbon markets, ensuring that every credit issued delivers real, additional, and independently verified emission reductions. For BURN, the issuance formalizes what has always defined its approach: high-integrity carbon projects that deliver measurable impact for people and the planet.

“This recognition reaffirms the integrity that has always guided our work,” said Chris McKinney, Chief Commercial Officer at BURN. “We’ve consistently operated at a standard that is now validated by ICVCM— using the most rigorous methodologies, monitoring techniques such as Kitchen Performance Tests (KPTs), to ensure our credits represent real and lasting climate benefits. We are proud to meet the demands of the market by issuing some of the first clean cooking CCP-labeled credits. As the market evolves, buyers are demanding the highest quality - the entire supply of the Kenyan Global Cookstove project was sold before issuance at prices that show the integrity of CCP credits, and the additional value BURN brings to its projects.”

Luke Leslie, CEO of Key Carbon said: "This brings together some of the most important trends in the carbon markets. Issuances of highest-integrity credits are rising, helped by rigorous standards such as ICVCM's CCP. Corporate demand is also rising, as markets transition from voluntary to compliance-driven purchasing. High-integrity credits, such as those issued to Global Cookstoves, are also increasingly available at prices that encourage demand. As all these trends help accelerate the carbon markets, we look forward to working with BURN to expand Global Cookstoves issuance in months ahead."

Brennan Spellacy, Co-Founder and CEO of Patch: "In the newest evolution of the voluntary carbon market, buyers overwhelmingly demand integrity. So far, ICVCM Core Carbon Principles-approved credits are by far the most requested standard-compliant credits in the market according to our latest data (40%). Reducing emissions from cookstoves is critical to the fight against climate change. As the developer of the first CCP-approved cookstove credits in the market, BURN has the inside track on growing demand from some of the world’s largest and most reputable carbon credit buyers."

This issuance puts BURN and its projects with various partners at the vanguard of the new high-integrity carbon credit market.

Since 2011, BURN has distributed over 6 million biomass, LPG, and electric cooking appliances across 12 African countries, including its award-winning, IoT-enabled ECOA Induction Cooker. These stoves reduce fuel use by up to 80%, cut household emissions, and lower exposure to deadly indoor air pollution. To date, BURN’s products have improved the lives of over 32 million people, saved 35.4 million tons of wood, and generated 9.5 million Gold Standard carbon credits.

About BURN

Headquartered in Nairobi, Kenya, BURN is Africa’s leading clean cooking company and one of the only carbon project developers managing the entire carbon value chain—from project design and in-house monitoring to credit issuance and sales. Operating in 11 African countries, BURN employs over 3,000 people. Its cookstoves have generated 9.5 million Gold Standard credits, reduced indoor air pollution by up to 100%, and protected forests by saving over 35 million tons of wood. Learn more at www.burnstoves.com.

About Key Carbon

Key Carbon is a London-based project financier and project co-developer. It is accelerating the development of carbon markets by finding and financing the greenhouse gas-reducing projects that are best positioned to generate high-quality carbon credits in the short term, while growing supply in the decades ahead. More: https://key-carbon.com/

About Patch

Patch is the platform accelerating climate solutions with integrity. Patch builds technology to help organizations manage, sell, and buy carbon credits with efficiency, transparency, and rigor. Through Patch, companies gain access to the broadest network of high-integrity carbon credits. Carbon credit suppliers use Patch to get more precise and efficient, with modern buyer experience. Today, hundreds of millions of tonnes of carbon are actively managed on Patch. To help rebalance the planet, visit https://www.patch.io/