Kenyan President William Ruto recently signed the Climate Change (Amendment) Bill 2023 into law, marking a significant step towards the regulation of carbon markets. This legislative move not only enhances Kenya’s capacity for climate resilience initiatives but also paves the way for the establishment of a domestic carbon trading market.
The amended Climate Change Act empowers the Cabinet secretary to appoint a designated national authority for market mechanisms, in line with Article 6 of the Paris Agreement, and to establish a national carbon registry. Kenya’s adoption of carbon market regulation aligns with global efforts, joining countries like South Africa, India, Indonesia, and Vietnam in creating domestic carbon trading systems.
BDA