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Kenya sets 10 million tonne ceiling on carbon credit exports
['Sharon Busuru']
Sharp Daily
The State Department for Environment and Climate Change has capped credit transfers at 10 million tonnes of carbon dioxide equivalent between now and 2030.
Carbon credits are earned by projects such as reforestation, clean cookstoves, or renewable energy that remove or avoid emissions, and are then sold to companies elsewhere seeking to offset their own carbon output.
Kenya’s carbon budget covers emissions reductions generated in the energy, transportation, industrial processes and waste sectors, with annual allocations capped at 1.67 million metric tons of carbon dioxide equivalent.
He added that government decisions will rest on “clear, published criteria designed to deliver national benefits without compromising Kenya’s climate integrity.”
Officials say the twin measures an export cap paired with a local trading platform are meant to balance investor interest in Kenya’s carbon market with the country’s own long term decarbonization obligations.