NCN Launches the Carbon Markets Association of Kenya

26th February 2024: On the closing of day 1 of the Kenya Carbon Markets Conference, NCN co-hosted a networking reception with Climate Impact Partners, supported by FSD Africa and Bowmans Law. At this event, we announced the forthcoming launch of the Carbon Markets Association of Kenya (CAMAK) a groundbreaking initiative incubated by NCN through its carbon markets working group.

Addressing a critical gap in uniting carbon markets practitioners in Kenya

The Government of Kenya is making significant strides in creating legislation, policies, and regulations governing carbon markets in Kenya. Over the past 12 months, NCN’s carbon markets working group united carbon stakeholders and practitioners to share several rounds of feedback on the draft texts with the government. 

Thanks to the contributions of project developers, lawyers, investors, and community representatives, the working group helped strengthen the workability of Kenya’s carbon regulations and ensure a viable environment for all market players. We now look forward to the release of the final version, expected in June 2024. 

“Kenya has made impressive progress with its revised carbon markets regulations and is now in a strong position to leverage the potential of carbon markets for the benefit of its population and the planet.” 

Mark Napier, CEO of FSD Africa.

Building on the success of the carbon markets working group, there has been a need to spin out the working group and create an independent association that reflects the interests of members. This is how the Carbon Markets Association of Kenya (CAMAK) was born! 

“CAMAK can play a critical role in bringing a shared voice and engaging with the government to build a more enabling environment,” explained Paul Muthaura, CEO of ACMI, during the launch of CAMAK. “It can be very hard for regulators to take on board industry feedback unless a cohesive industry voice comes through with consistency and a united voice.”

 

 

As announced by Olivia Adhiambo, Interim Treasurer of the Association, CAMAK’s vision is for Kenya to lead the world in generating high-quality carbon credits that deliver value for communities and the planet. This can only be done together: “Collective action from industry players helps to create a more enabling environment for carbon projects, leading to direct benefits for communities,” also said Christina Nduba-Banja, Partner at Bowmans Law.

Guided by integrity, collaboration, and innovation, CAMAK will unite carbon markets practitioners and stakeholders, advocate for continuous improvement in the legal framework, and encourage the sharing of best practices among carbon developers. 

“We look forward to engaging with the Association to continue the dialogue with industry players and ensure the development of high quality, inclusive carbon projects for Kenya.” 

Ali Mohammed, Special Envoy for Climate Change

 

How to join CAMAK

Membership in CAMAK will be offered to carbon project developers and other organisations actively working in carbon markets in Kenya.

The first phase of applications is open to carbon project developers registered in Kenya, until the inaugural Annual General Assembly (AGM) on June 20th, 2024, during which the final eligibility criteria will be defined and membership will be extended to other carbon stakeholders. If your organisation is actively involved in carbon project development and registered in Kenya, we invite you to complete this form for joining the association ahead of the first AGM in June. 

Upon acceptance, an admission fee of 10,000 KES is invoiced to contribute towards establishing the Association. The annual membership fees will be decided during the AGM. 

“As developers of high-quality carbon projects, Climate Impact Partners is proud to support the establishment of CAMAK. This initiative reflects our shared commitment to advancing carbon markets in Kenya, which are critical to harnessing the power of the private sector to finance and meet our climate goals, while also unlocking essential opportunities for sustainable development.” 

Faith Temba, Sourcing Manager, Climate Impact Partners

 

Final words

The association is off to a promising start with over 25 project developers joining in the few days that followed the conference. James Mwangi, CEO of Africa Climate Ventures and NCN board advisor, welcomes this enthusiasm and urges the association to “move the carbon discussion beyond hotel rooftops and down to sector business forums, regional chambers of commerce, and local community conversations!”

 

NCN extends gratitude to all partners and attendees for their support and participation during the launch of the Carbon Markets Association of Kenya (CAMAK). We look forward to progressing this initiative as we dive deep into a carbon markets workshop in June. Stay tuned for updates on the event dates and details!

Special thanks to our event partners, Climate Impact Partners, FSD Africa, and Bowmans Law for their support of the launch of CAMAK. We look forward to continuing to collaborate on future engagements that strengthen the carbon markets in Kenya.