The Kenya Private Sector Alliance (KEPSA) has partnered with The World Bank to introduce the Carbon Market Guidebook for Kenyan Enterprises in Nairobi. This guidebook offers comprehensive assistance to Kenyan enterprises across various sectors, including agriculture, waste management, forestry, manufacturing, energy, transportation, and hospitality.
Dr. John Wandaka, Vice-Chair of KEPSA’s Environment, Water, and Natural Resources Sector Board, emphasized the significance of carbon markets in providing alternative financing options for enterprises struggling to access traditional climate finance. He highlighted recent legislative amendments, such as the integration of carbon markets into Kenya’s mainstream through the 2016 Climate Change Act, as key drivers for the guidebook’s development.
Governor Wilber Ottichilo of the Council of Governors applauded the guidebook’s timely release, recognizing its alignment with national climate objectives and the potential for private enterprises to drive emissions reduction efforts while fostering economic growth.
Mr. Isfandyar Khan, Lead Financial Sector Specialist at The World Bank, commended KEPSA’s role in facilitating enterprise engagement with global financial opportunities. He also highlighted the transformative impact of digital technologies on carbon market engagements, reflecting ongoing digitization efforts both locally and globally.
The event, attended by prominent figures from the public and private sectors, served as a platform for discussions on policy frameworks conducive to carbon market growth and showcased innovative carbon market-related solutions through exhibitor displays.
In essence, the Carbon Market Guidebook equips Kenyan enterprises with the necessary knowledge and tools to navigate the evolving landscape of carbon markets, fostering sustainability and resilience in their business practices.
photo source: Google
By: Montel Kamau
Serrari Financial Analyst
16th April, 2024
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