logo
ADVERTISEMENT

KenGen among firms to guide Kenya’s carbon market

The power generator will be a committee member for three years.

image
by VICTOR AMADALA

Kenya25 November 2024 - 16:10
ADVERTISEMENT

In Summary


  • The move positions KenGen at the forefront of advancing Africa’s carbon trading future and unlocking new opportunities in the fight against climate change.
  •  KenGen managing director and CEO, Peter Njenga, hailed the appointment as as a timely recognition of the company’s contributions to sustainable development.

KenGen managing director and CEO, Peter Njenga / HANDOUT

Kenya Electricity Generating Company (KenGen) has been appointed to the Multi-Sectoral Technical Committee (MSTC), a high-level team tasked with shaping Kenya’s carbon market framework. 

Environment Cabinet Secretary Aden Duale announced in a November 22 gazette notice that the power generator will be a committee member for three years.

The move positions KenGen at the forefront of advancing Africa’s carbon trading future and unlocking new opportunities in the fight against climate change.

 KenGen managing director and CEO, Peter Njenga, hailed the appointment as as a timely recognition of the company’s contributions to sustainable development.

“We are honoured to join this climate-positive committee, which will a key role in advancing the climate agenda not just in Kenya but across Africa. KenGen’s extensive experience in renewable energy and carbon credit generation uniquely positions us to provide valuable insights and help shape a robust carbon market framework for Kenya,” said Njenga. 

He added that the appointment underscores the company’s leadership in clean energy innovation, driving sustainable solutions that power our nation and contribute to global efforts to combat climate change.

The appointment, made under the Climate Change Act, 2013, and the newly enacted Climate Change (Carbon Markets) Regulations, 2024, establishes a technical structure to oversee the development of carbon projects and facilitate participation in carbon markets. 

The initiative is expected to catalyse the growth of Kenya’s carbon economy, paving the way for the country to monetize its climate actions by selling carbon credits. 

The firm brings a wealth of expertise to the committee, having earned a cumulative 6.9 million carbon credits from six Clean Development Mechanism (CDM) projects registered under the United Nations Framework Convention on Climate Change (UNFCCC).

These projects include the Olkaria II Geothermal Expansion, the Redevelopment of Tana Hydro Power Station, and the Ngong Wind Project, among others.

The MSTC is a multidisciplinary body comprising representatives from key government ministries, counties, and agencies.

Its primary mandate is to provide technical advice to the Designated National Authority (National Environment Management Authority, NEMA) on carbon project assessments.

This collaboration ensures alignment with international climate protocols while fostering local expertise and innovation.

KenGen’s inclusion in the MSTC aligns with its strategic focus on renewable energy, with over 90 per cent of its electricity generated from clean sources such as geothermal, hydro, and wind. 

Through the MSTC, Kenya is set to establish a robust carbon market, allowing public and private entities to trade emission reduction units, offsets, and mitigation outcomes.

This mechanism will play a critical role in driving investments into climate projects and ensuring compliance with national and international regulations.

Related Articles

ADVERTISEMENT

logo© The Star 2024. All rights reserved