Kenya is preparing to launch a carbon market, enabling both public and private sectors to trade carbon credits and emission reduction outcomes. The initiative aims to promote climate action and economic opportunities through carbon trading.
A technical framework has been established to oversee carbon project development and encourage market participation. Kenya Electricity Generating Company (KenGen), a member of the Multi-Sectoral Technical Committee (MSTC), emphasized the potential of the initiative to grow Kenya’s carbon economy and monetize its climate efforts through credit sales.
KenGen’s managing director, Peter Njenga, highlighted the company’s success in earning 6.9 million carbon credits from six UN-registered clean energy projects. These projects include the Olkaria II Geothermal Expansion, Tana Hydro Power Station redevelopment, and the Ngong Wind Project.
The MSTC will play a pivotal role in driving investment in climate projects while ensuring adherence to both national and global regulations. KenGen also reiterated its commitment to cementing Kenya’s leadership in green energy and climate initiatives.
