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KCIC and Global Carbon Council to Accelerate Carbon Market Actions in Africa

  • By KCIC Communications
  • December 6, 2023
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  • 380 Views

UAE, 6 December 2023: The Kenya Climate Innovation Center (KCIC), and the Global Carbon Council (GCC), an international carbon credit and sustainable development program, have signed a Memorandum of Understanding (MoU) to accelerate carbon market actions in Kenya and the African continent at large. The official signing ceremony took place at the GCC Pavilion in Blue Zone during the ongoing 28th United Nations Climate Change Conference (COP28) in the UAE.

Under the terms of the MoU, KCIC and GCC commit to joint efforts aimed at promoting carbon market actions, particularly in Kenya among other African nations. The collaboration will focus on supporting local activities related to the activation and operationalization of Article 6.2 of the Paris Agreement and the promotion of the Voluntary Carbon Markets (VCM) in the region.

Speaking on the sidelines of the event, Joseph Murabula, Chief Executive Officer of Kenya Climate Innovation Center, said, “Climate change in Africa and Kenya in particular is a pressing concern, and the role of carbon credits stands as a beacon of hope in our fight against this crisis. By leveraging carbon credits, we can empower our communities to invest in sustainable practices, driving impactful change while fostering economic growth. Together, through innovative solutions and a commitment to offsetting carbon footprints, we pave the way for a greener, more resilient future for Kenya and Africa.”

Dr. Yousef Alhorr, Founding Chairman of the Global Carbon Council (GCC), said, “Despite its minimal contribution to global GHG emissions, Africa is disproportionately susceptible to the repercussions of climate change, necessitating the development of nature-positive solutions to build future resilience. To this end, our collaboration with KCIC marks the inception of a strategic relationship that will explore low-carbon pathways for Kenya as well as the wider Africa. The aim of our collaboration is clear: to empower nations in the region, especially Kenya, to build resilience by leveraging carbon markets. This collaboration will not only channel essential investments into Kenya’s GHG mitigation and adaptation projects but will eventually serve as a key enabler for the African nations to meet their NDCs under the Paris Agreement. Going forward, GCC will offer its climate expertise, hand in hand with KCIC, which will contribute through its invaluable local insights.”

A key objective outlined in the MoU is the exploration of ways to engage with public and private stakeholders in Kenya, with the aim of expanding the Voluntary Carbon Market as a vehicle to fulfill Kenya’s NDCs under the Paris Agreement. Additionally, KCIC will collaborate with GCC to engage the Kenyan government for the issuance of Internationally Transferable Mitigation Outcomes (ITMOs) in Kenya under Article 6.2 of the Paris Agreement.

As part of the capacity-building initiative, KCIC and GCC plan to organize both in-person and virtual workshops and training programs for internal and external stakeholders, including government and private sectors in Kenya. This knowledge dissemination effort is expected to enhance the understanding and implementation of sustainable practices and carbon market mechanisms across the region.

Through the MoU, KCIC and GCC aim to diversify the avenues for mitigation and adaptation available to Kenya, helping the nation achieve its climate goals. Simultaneously, the partnership is anticipated to further expand the reach and impact of GCC’s solutions to the wider African region. With more than 1,480 GHG projects submitted from 45+ countries, GCC is contributing to a more sustainable and low-carbon future across the globe.