Carbon Markets Working Group - feedback on the Climate Change Amendment Bil

The Carbon Markets Working Group wrapped up their first collective task of providing feedback on the Climate Change Amendment Bill. This legislation has, if designed well, the potential to accelerate climate investments into Kenya. A clear and enabling framework will attract climate finance and ensure the integrity of projects developed in the country, bringing jobs and new income streams to communities.

With this in mind, our working group made up of 60+ carbon project developers and sector experts provided line-by-line recommendations on the bill, with the following key messages:

1. To avoid duplication, the Act should build on the existing internationally recognised Carbon Standards, so that projects that use these recognised standards can qualify for the transfer of mitigation outcomes;
2. Given variety in carbon projects, the Act should not prescribe the fixed percentage for benefit sharing with the community, but instead require that projects report in a transparent manner to the Council on what benefits they have shared with their community – monetary or otherwise – as part of the application for Authorised Mitigation Outcomes. This will encourage investment in community activities, and those who are most engaged will achieve higher prices in the market;
3. Around the world governments are providing incentives to invest in green economies; let not Kenya do the reverse by setting up taxes on or barriers to carbon projects.

Thank you to all the participants and particularly Tom Morton for steering this group. Watch this space for next steps and actions for the Carbon Markets working group.