BURN Manufacturing: Fueling Sustainability through Product Innovation and Carbon Financing in Africa
| Case Code: LDEN224 Case Length: 18 Pages Period: 2011-2024 Pub Date: 2024 Teaching Note: Available |
Price: Rs.400 Organization : BURN Manufacturing Industry :Home Appliances & Consumer Products Countries : Kenya Themes: Social Entrepreneurship, Sustainable Innovation, Channel Strategy & Development,Corporate Social Marketing |
Abstract Case Intro 1 Case Intro 2 Excerpts
Introduction
In October 2023, BURN Manufacturing (BURN), the world’s leading producer, distributor, and carbon offset project developer for clean cookstoves, announced plans to issue US$10 million in green bonds to fund clean cooking initiatives across sub-Saharan Africa. The bond proceeds were intended to be used to expand BURN's manufacturing capacity in Kenya and establish a new production facility in Lagos, Nigeria, to promote the adoption of sustainable cooking solutions throughout Africa. With these funds, BURN aimed to increase its cookstove production from 400,000 to 600,000 units per month. “Our decision to issue the first green bond to support clean cooking underscores our strong belief in the power of financial innovation to drive positive environmental and social change. Leveraging benefits such as investment communities’ interest in green financing and potential tax advantages to investors, green bonds have gained considerable traction in recent years. BURN is excited to deploy this innovative instrument to catalyze sustainable development,” said Peter Scott (Scott), CEO, BURN..
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