Kenya unveils carbon market rule book and caps the overseas sale of carbon credits
Summary
Kenya has set a limit on how many carbon emission credits it can sell to overseas buyers, establishing a 10 million metric ton cap through 2030. The country introduced a detailed rule book to guide carbon trading projects that helps protect its climate goals under the Paris Agreement.Key Facts
- Kenya limits overseas sales of carbon credits to a total of 10 million metric tons of carbon dioxide equivalent by 2030.
- The new carbon market guide sets an annual cap of 1.67 million metric tons for carbon credit sales.
- The guide creates a clear process to approve carbon trading projects under Article 6 of the Paris Agreement.
- Kenya wants to avoid selling too many carbon credits so it can meet its own climate targets, known as Nationally Determined Contributions (NDCs).
- Priority projects include renewable energy, transportation, and waste management; forest projects are excluded for now.
- The framework aims to make approval decisions more predictable and transparent for investors.
- Kenya has become a major African destination for carbon market investments like clean cooking and mangrove restoration.
- The government hopes the new rules will protect climate integrity and benefit local communities involved in carbon market projects.
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