Climate idea
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Government of Kenya

Climate idea

How we can foster sustainable growth through carbon credits

Introduction of the 2023 Carbon Markets Regulations is a positive step towards promoting the formation, involvement, and oversight of carbon trading in Kenya. In the pursuit of climate change mitigation and sustainable development, the United Nations’ Intergovernmental Panel on Climate Change (IPCC) formulated a transformative carbon credit proposal within the 1997 Kyoto Protocol agreement. This initiative was adopted at the third session of the Conference of the Parties (COP3) as a response to the urgent need to curb global carbon emissions. The Kyoto Protocol set forth binding emission reduction targets for participating nations. The concept of carbon credits therefore emerged as an innovative mechanism to incentivise emission reductions within the corporate sector. By creating a market for emissions permits/carbon credits, the system allowed companies to trade these permits, encouraging a decline in overall emissions over time. Carbon credits thus became a pivotal tool in the fight against climate change, motivating companies to transition to cleaner technologies and sustainable practices. While companies striving for emission reduction benefited from financial incentives, those facing challenges in this endeavour could still operate, albeit at a higher cost. At COP27, the Government of Kenya unveiled an ambitious vision, boldly aiming to establish the country as a preeminent exporter of carbon credits on the African continent. This strategic initiative underscores the country’s commitment to environmental leadership and sustainability. By aspiring to be a key contributor to carbon credit markets, Kenya seeks to play a pivotal role in mitigating global climate change. The vision articulated during the conference reflects a forward-thinking approach, aligning economic aspirations with environmental stewardship and positioning Kenya as a frontrunner in the pursuit of a more sustainable and eco-friendly future. Subsequently, at the Africa Climate Summit, African nations championed the adoption of market-driven financial mechanisms, including carbon credits.

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  • Chris Ndungu

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    6 w

    We look forward to see carbon credit fostering sustainable growth. Still we hope it will bring positive & hopeful news to the world of environment conservations.

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