Kenya, World Bank unveil carbon market guidebook for enterprises

Release time：2024-05-21 18:10:46 Source：Global Glean news portal

NAIROBI, April 13 (Xinhua) -- Kenya and the World Bank have unveiled a guidebook in order to boost the participation of local enterprises in carbon markets.

Stephen Odua, director of business environment at the Ministry of Investments, Trade and Industry, said the manual provides practical steps for private sector organizations seeking to develop projects that contribute to the avoidance or mitigation of greenhouse gas emissions.

"Kenya has missed out on carbon markets given that many enterprises have a limited understanding of carbon markets, and significant capacity building is needed," Odua said in a statement released on Saturday in Nairobi, the capital of Kenya.

Victor Ogalo, deputy chief executive officer of the Kenya Private Sector Alliance, said participation in carbon markets will enable local companies to support the country's climate change mitigation and adaptation goals.

He noted that the guidebook sets out procedures and rules for enterprises exploring how to quantify and issue certified carbon credits. ■

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