Kenyan companies in Carbon heavy industries such as, transport, waste, energy and agriculture are set to benefit from easier access to carbon financing.
This is following the signing of a new deal aimed at increasing the accessibility and mobilisation of catalytic carbon and climate finance.
The partnership between KEPSA and EcoSecurities is aimed at among others, supporting businesses operating in Kenya and the wider African continent in transitioning to low-carbon, climate-smart economic development.
KEPSA Global Director of Youth and Jobs Ehud Gachugu said that there is considerable potential for Kenya to utilise carbon finance to accelerate decarbonisation efforts and enable sectors such as clean energy and climate-smart agriculture to grow, generating new sustainable economic opportunities for the country.
EcoSecurities will now become KEPSA’s preferred carbon asset management partner to unlock the potential of carbon finance in Kenya
“This collaboration will empower our private sector to harness carbon markets effectively, fostering sustainable economic growth and helping us meet our climate commitments,” said Gachugu.
This agreement comes as Kenya works to meet its climate goals, including a 32 per cent reduction in carbon emissions by 2030.
The deal will see private sector companies working in critical sectors such as heavy industry, transport, waste, energy and agriculture can access carbon finance via the rapidly evolving Article 6 and voluntary carbon markets.
Kenya has been pushing for reforms to align with the emerging funding needs associated with the carbon financing.
The recent Climate Change Act Amendment (2023) and the introduction of Carbon Markets Regulations (2024) are among the efforts aimed at encouraging carbon finance as a tool to boost sectors like clean energy and climate-smart agriculture.
Environment, Climate Change and Forestry Assistant Secretary Faith Njeri, who spoke on behalf of the principal secretary Festus Ngeno, said that carbon market initiatives should align with Kenya's development priorities and contribute meaningfully to poverty alleviation, gender equality, and social inclusion.
“This partnership between EcoSecurities and KEPSA is a perfect example of how we can leverage collaboration to drive impactful climate action. By working together, we can mobilize resources, share expertise and scale up projects that deliver real, measurable benefits for our people and our planet,” said Faith.
EcoSecurities CEO Pablo Fernandez said they will leverage the full potential of the carbon markets in a way that will deliver sustainable economic development
