CS Duale Grilled To Shed Light Emerging On Carbon Markets

The Cabinet Secretary for Environment, Climate Change, and Forestry, Aden Duale, appeared before the National Assembly Committee on Delegated Legislation concerning the rules governing the nation’s burgeoning carbon markets.

This development comes after last year’s modification of the Climate Change Act, aimed at boosting the country’s carbon markets as a crucial source of climate finance.

The regulations aim to implement the recent changes to the Climate Change Act, establishing a structured framework for trading carbon credits.

“The Designated National Authority appointed shall also maintain the National Carbon Registry established under new section 23G,” states the Act in part.

Kenya is positioning itself as a frontrunner in Africa’s carbon markets, expected to generate income from carbon credits linked to projects that reduce greenhouse gas emissions.

Previously, there were concerns about the potential exploitation of local communities.

However, the ministry aims to leverage the new regulations to put in place rigorous monitoring systems ensuring adherence to environmental standards.

Also read: Ruto-Gachagua Rift Distracts From Real Issues Facing Kenyans

Carbon markets enable countries or organizations to trade carbon credits, each representing the reduction of one ton of carbon dioxide or equivalent greenhouse gases.

This is a strategy for addressing climate change while generating revenue for eco-friendly projects.

In Kenya, the initiative to develop carbon markets arises as the country contends with growing climate issues such as droughts, floods, and rising temperatures.

The revised Climate Change Act, passed in 2023, is part of the government’s larger plan to tackle these challenges while encouraging sustainable economic developmet.