Kenya unveils carbon market handbook for companies

from MARIA MACHARIA in Nairobi, Kenya
Kenya Bureau
NAIROBI, (CAJ News) – KENYA has launched the Carbon Market Guidebook for local enterprises to enable them access climate finance.

Jointly launched in Nairobi by the Kenya Private Sector Alliance (KEPSA), in partnership with the World Bank, the guidebook aims to provide step-by-step guidance for enterprises in various industries to navigate the complex and fast-evolving landscape of carbon markets.

“Carbon markets offer an alternative financing avenue that can empower enterprises struggling to access traditional climate finance,” noted Dr John Wandaka – Vice-Chair of KEPSA Environment, Water and Natural Resources Sector Board.

He was speaking at the launch this past weekend.

Wandaka noted that funding constraints hindered the ability of Kenyan enterprises to contribute meaningfully to climate action.

The Carbon Market Guidebook provides credible information about regulations in understanding carbon credits as a way to mitigate greenhouse gas emissions.

Speaking at the launch, Isfandyar Khan, Lead Financial Sector Specialist at the World Bank, noted the ongoing digitisation efforts in Kenya and in the global market where more companies are now using digital technology in the carbon market space.

The Kenya Climate Change Act (2016) underwent amendments last year to integrate carbon markets into the mainstream.

Government has welcomed the Carbon Market Guidebook, noting that it aligns with the urgent need to address climate change.

– CAJ News