An efficient stove can drastically reduce a family’s dependence on collecting or purchasing cooking fuel. As a result, lives are saved, rapid deforestation is slowed and greenhouse gas emissions are significantly reduced.
The Paradigm Project, supported by Praxis Mutual Funds, is a social venture company working to create sustainable social, economic and environmental value within developing world communities by providing products, services and opportunities that reduce poverty and improve quality of life.
Paradigm collaborates with local businesses, entrepreneurs, and global nonprofits to build and manage energy-related businesses that meet immediate development needs. Projects are designed to create immediate impact in communities and to generate the highest quality carbon offsets, which are then sold in the carbon markets. The resulting revenues are used to fuel project growth, repay investors and build long-term value for NGO partners and participating communities.
Paradigm's mission is to develop world-class impact ventures that generate meaningful value for at least 5 million families (25 million people) in the developing world the end of 2020 and 20 million families (over 100 million people) by 2030.
On average, one Paradigm stove saves 33 trees, reduces toxic emissions by 70%, and saves a family 1,300 hours of cooking time and $280. Paradigm started providing stoves in Guatemala and Kenya in 2011 and 2010, respectively. After 10 years in these two countries, Paradigm expects to have distributed 500,000 stoves, saved people 516 million productive hours, saved 16.3 million trees, saved families $144.6 million in income, and reduced emissions by 6.9 million metric tons of CO2.
Praxis Mutual Funds® supports organizations such as The Paradigm Project through investments in Calvert Impact Capital, an impact-investing institution that helps people around the world through community development financing. It’s part of the Praxis commitment to place approximately 1% of each of its funds to benefit neighborhoods and individuals through community development investments.